Sixth day of straight gains and it does not seem like it is ending in a hurry. What is your sense?
It does not have to end in a hurry. I have seen such rallies earlier when we went up for 14 consecutive days. This is just the 6th day, which means that the markets can do anything and as traders our task is to go with the markets and not try to outsmart it. The short-term trend is up, and there is no doubt about that. There is only one trade here on consolidations, on corrections go long. Go long in only the Nifty and Nifty stocks because these are the only ones that are moving. So the trader should focus on the stocks that are actually moving.
It does not have to end in a hurry. I have seen such rallies earlier when we went up for 14 consecutive days. This is just the 6th day, which means that the markets can do anything and as traders our task is to go with the markets and not try to outsmart it. The short-term trend is up, and there is no doubt about that. There is only one trade here on consolidations, on corrections go long. Go long in only the Nifty and Nifty stocks because these are the only ones that are moving. So the trader should focus on the stocks that are actually moving.
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