Get Ready for Correction - Nifty 7500

I think a correction is around the corner and it could be similar to the one in Jan. I think it's a good time to be lining the sips in select stocks.

I am actually looking forward to the correction. May not be immediate, but pretty certain it will happen before Feb 2017. Many missed the Nifty rebound last time, don't miss it this time.

 

Yes and this correction may last till 8150. Earlier the correction was very HEAVY & UNEXPECTED but this time the upturn will be QUICKER. In fact it can reverse before 8450 also.

IMPORTANT:- Why I am not expecting any big correction this time is because traders are already aware of the upcoming possible market correction. Every second TV analyst is predicting about the same which means nothing big going to happen. Expecting the unexpected is wisdom and this time I see the unexpected bullish moves.

 

Maybe.. which is why I'm not selling. But getting into buy agressively on every dip mode

 

In my Twitter i posted on 11-10-2016 Nifty spot EOD chart for Learning Purpose...for better view click on chart ...

 

If it drops to 8450 this week, then there will be more clarity to where we might be heading.

I have been looking to buy meaningful minority stake in couple of companies. I hope this dip will pave the way.

 

Which scrips should be picked up during this correction?

 

Correction has gone it seems My portfolio is good because JB Chem is shooting up.

I am going for old favourite stocks only because they have potential still like JB Chem, DHFL, Bajaj Finance, CAPF, Prima etc.

 

Yes Todays resilience proves that when people like me are not afraid of correction, then probably noone is.

 

Just noticed. Global indices had a good day. Nifty was among the worst performers. So, remains to be seen how next week opens.

 

Prima plastics?

 

Although it may be too early to say that the correction is over but check my little work on NIFTY technicals. NIFTY is again at its support zone which may result in temporary bounce back but the question is Will NIFTY close above 8804 next week ? Good if that happens.