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Nifty Medium term View

Nifty Medium term View

On September 2018, we had come out with a report that, early sign of topping out pattern seen in Nifty when nifty was around 11300. One can read the report at – http://www.einfomet.com/nifty-early-sign-of-topping-out-pattern-seen/

 

Nifty Medium term View

Nifty made a low of 10004 ( earlier low as 9950 on march 2018 ) took support & presently made high of 10770. A resistance near 10700-800 near its 200 Day DMA.

 

Our View

When we published the report earlier in Sep 2018, had mentioned that earlier sign of topping out pattern seen, had told that, we may retest preview bottom & consolidation will be seen for an year.

 To me, actionable points are (for portfolio investor)

  • The consolidation can still extended for next 1 year & may be coincide with 2019 general election.
  • Would advise, to keep atleast 30% allocation in cash only.
  • Continue with your SIP (MF/ stock SIP). Avoid lumpsum investment at present points.
  • Though we might have seen recent top in Crude & INR, but global slowdown can drag our indices further.
  • Invest in quality & market leader company (RIL, Bajfin, Titan, Voltas, ICICIBank etc). At present, avoid Auto & other consumer stocks
  • At this point 9800 is strong support, but i feel 9200-9600 may test.

 

Earlier Report

NIFTY – EARLY SIGN OF TOPPING OUT PATTERN SEEN

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Copyright 2018 einfoMet
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