Every trader is unique and every investor is unique. That makes market always interesting. There are buyers who see the potential of a stock and there are sellers who see the downside risk of stock. Bull & bear fight is never ending phenomena.
No one can predict the market but it has taken support at 16800 to 16900 levels and bounced back quickly. It has taken support in the past at same levels. Buying came from that point is huge and FIIs are also turning bullish. FED rate hikes may pause. All the positivity is already priced in the market. We may not see an immediate rally but consolidation takes place in near term.
- Markets will touch all time high once it give decisive breakout above 18250 levels
- There are enough buying opportunities still in the market for investors
- Pharma is a beaten down sector in the last 2 years after the covid rally.
- Negative news has already priced in and everything looks optimistic but never take a unidirectional bet. We may not know when Adani issue comes into play again or any other new political or global drama disturbs the sentiment.
- Short term investors can safely book and wait for 17500 levels again to re-enter.
