June 12th
Took some actions yesterday looking at the ferociousness of the markets
- Exited Glenmark and Angel One ( Angel -we may enter again after the correction)
- Added GRSE & Carysil
- Sold 10% of each position to raise cash and to book partial profits.Now we’re in 25% cash position.
Reasons :
- As per EW, we have either completed wave 1 in Nifty or are near completion of Wave 1 ,hence expecting some correction in short term
2.BSE Small Cap Index RSI is at 85 whereas BSE Mid Cap Index RSI is near 80, generally at these levels ,we have seen that markets tend to give a correction so as to bring the RSI down so as to prepare for the next leg of rally.
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