State of the Market|Reading the Psychology of the market

Nifty has moved up 4.7% in last 3 days. It is trading above 20 day ma, 50 day ma and 200 day ma. And so - technically, the market looks to be in fine shape. The internals are also looking good and technically strong stocks are breaking out and making new highs. Finding a fault with current market just does not make sense. We have to accept that we are in a bullish healthy market, where one should just focus on technically strong stocks.

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We are in a market environment where sellers run out of steam after few bad days and equally on other side - buyers run out of steam after few good days. Welcome to range bound stock specific market. This is what market has been for last many months and its high time we accept this reality and not read too much on day-2-day move.

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