Predicting the markets is not recommended to anyone and I follow the same rule. However, one should know whats happening at the moment and need to act accordingly.
Let me present a few points as TA
- The beaten down infrastructure sector in India has rallied big time during this week
- The sectors off lately which had shown gains like IT and FMCG have started correcting
- Even the banking stocks are showing some improvement in prices indicating buyers are willing to pay higher prices
- Nifty the index is holding above 4800 for the time being with the larger TF in favor of move upwards but on daily its little overbought so may go sideways correction
Thus the conclusion may be that the sectors that were beaten down are coming into favor with the traders and speculators with the others like IT and FMCG due for a correction now.
For going long we now know which way to go.
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