I will advise my fellow investors to refrain from investing at the current levels.
So one might ask "Why?"
Because after recent sell off the index has reached long term support levels, and is just trading above its 200 DMA. Any break out (fall) might take the index to 17,750 (Support 1) and thereafter to 17,400 (Support 2).
Long term investors should wait to see a clear direction, so as not to miss buying opportunity at lower levels - by this I don't mean to time the market, as I don't consider myself expert in this.
Happy Investing!!!
Data: Bloomberg, Wealthy Opinions
Dear Shekhar,
ReplyDeletePlease refer to this post and the next one on NIVIX.