Yeah! Yeah! Bernake did a Reddy( and we gave a thumps up with a gap up). Let’s take a look at today’s Nifty action…Yawn! Yups another day, where individual stock trading, would have been more fruitful than trading Nifty. We gapped up after all we also needed to celebrate Fed action considering that we were closed on Thursday. Then rest of the day we spent in protecting the gap and reclaiming the highs for the day. Other than that there was nothing to do. Well one should enjoy these kind of days with some additional reading or listening to music or better still picking up that phone and catching up with friends. On the daily chart nothing much has changed we still moving towards the 5370 target albeit in a flag formation. As of now no alarm bells the supports on the down side are the 200 DMA and the 5k mark. Personally I feel if one is already in profit in their portfolio then its time to take out some profits.
"Do not confuse motion and progress. A rocking horse keeps moving but does not make any progress."
Alfred Montpert
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