The trend seems to be on the upside and the ideal strategy is to buy on dips just like we saw on Friday when market witnessed mild profit booking decline which was quickly bought into The Nifty50 index rose to fresh record highs last week and came closer to its next crucial resistance level of 10,700. The index closed with gains of 1.1 percent for the week ending January 12, however, the coming week is likely to be volatile. The trend seems to be on the upside and the ideal strategy is to buy on dips just like we saw on Friday when market But, some of the indicators are giving indications of Nifty being in an overbought zone and profit booking decline is possible ahead of the budget. Investors should maintain their long positions as long as 10,550 remains intact. “We had highlighted that the index is not finding similar sort of strength if manages to breakout in the upward direction. Also, the possibility of volatility increasing was on the cards. All these factors...
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