Once again a boring week, with very low change than last week… I have to show you the same chart pattern as it is the most important one. The breakout and breakdown confirmation points for the coming week are marked on the trend lines. A close above or below the trend line will take the indices into that direction. The chances of Nifty hitting 5400 are fairly good. However, it might not touch the top trend line before the next major drop happens. It is now time to be increasingly cautious. It will not harm you to exit cash stocks and sit on cash unless the markets prove otherwise. I do not think, it is a good idea to wait to take the full cream of the rise, but get satisfied with what you have already gained. No one will stop you from entering the stocks once again if markets rally above 5500 convincingly.
Disclaimer: The views expressed herein are to be used with your own discretion and neither analyst nor the publisher will be responsible for the outcome.
