Markets ran from 8800 to 14700 nobody said a word about stretched or highly overvalued ...It is 6000 points howe many %%%??...
Now the markets corrected around 2000 points the world will come out with over valuations and stretched etc ....This is the case everytime the small investors like to get carried away at higher levels listening stories abt junk ...
remember one thing about markets ....A good and healthy correction is a must for further bigger moves ...Corrections are to buy and add for investors ...Corrections always correct your overboardness...
Current View:
For long term players and risky short term players:
Start buying in small quantities ...The downward risk is 12500-12800 range where it is the best time to buy ...But stock specific movement might have fallen more ..
I was checking out the small caps and mid caps ... I still havent found much stocks which have over corrected or look at nice support levels...
Stocks that one can start adding ..:
This is the opportunity for the people who exitted at highest possible levels given by us ...Maybe the stuck people cant see any more downside..
Fibonacci supports ...The below stocks are at retracement levels and should bounce frm here
Ivrcl
for traders keep a stoploss of 276 and go long can touch 310-320 ...
Investors and players can add small amounts till 265-270 ...
Nagarjuna Construction
Start adding this stock a little at every dip ....can bounce from here for traders...
Investments :
IT stocks start adding ...Gtl arnd 125..
Regards,
Nooresh
9819225396
