Shall I buy Nifty next week

There was no dramatic change happened in Nifty in month of April. Still traders feel a jittery because they expect huge swings before the election results. Up or down? This is the 5th consecutive day Nifty closes in red. At this level most chartists and technical analysts are remain neutral. Nifty long term trend is still intact as it favors bulls. If you are selling now and go away , then you will be making a biggest mistake. Opinion polls suggests a stable government. Still there are some traders believe Modi factor is already factored. So buying at this level will be a risky job according to them.

Excella Traders believes infra and capital good sector has still more rooms grow and we have strong assumption that this correction can be treated as buying opportunity. There may be some euphoria ahead of election results.. We have moved higher in the past couple of months. We saw all time highs, we saw some range bound days. Whats now? Shall I start buy nifty now? A billion dollar question. We are not here to predict the market , instead we are throwing lights to manage your equity portfolio. We are not researching whether Nifty is in multi year bull rally or in short term corrective face. For an investor churning the portfolio every 1 month doesn`t look for the elliot wave principles. What he aims is 30-40% growth in his portfolio every year.

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