A few observations from the weekly charts of various NSE indices;
1. Nifty chart shaded in green, is trading above May 2013 highs and now looking to breakout to the new all time highs.
2. The CNX 500 shaded in Blue is still trading below the May 2013 highs and might just catch up with Nifty.
3. The Banks, the Midcaps, the Junior and the Small Caps are way below May 2013 highs.
4. This only warns that one needs to be careful in choosing stocks and not to be euphoric just because the Nifty or the SENSEX is breaking out.
No comments:
Post a Comment