Bottom Line: We are in last leg of the first correction of our multi month Bull Run. We will not enter Bear trajectory until Nifty breaches and close below 6580 for three consecutive days.
The correction isn’t over. Yesterday’s positive closing is just a relief rally that we witnessed and not the start of the next leg up. We are fast moving towards 7400 on the downside. Having expiry round the corner, we believe the haphazard move in markets to continue.
Once the correction is done, we are going to have wonderful opportunity to enter into sound stocks which could fetch 3 times or 4 times the present value. Stay patient until we are done with turbulent wave.