The whole day of trading was confined to the two levels 12500-12620 as my morning opening review suggested. Although, market looks cheaper compared to the 14700 levels, there is a lot of fear due to world markets. This has stopped people taking any firm positions as a trader and even long term investors are waiting for some clarity to emerge.
The stability in the world market will take sometime, at least 5 - 8 days. Anyway, one can wait. Just use this one week to find out the stocks that you are likely to hold on for next 2-3 years. Prepare the list on your own but not suggested by the media analysts. If not, I suggest to open one SIP scheme with any of the leading Mutual Fund Houses and carry on from here.
If you are a trader, do not try to buy at bottom. Just wait for sometime , and capture the move when it moves 20pts from bottom. So if you are using charts, you should be able to see the bottom in the chart clearly. Otherwise, don't trade. Just preserve the capital. It will be handy.
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1 comment:
Well said, Bala. I have already started SIP in HDFC, Reliance, and Franklin Templeton. I have started preparing the list of companies, I would like to own.
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