Go Up..UP.. Contd...
Even if referendum in Greece deferred, yet there is uncertainty which do not like the most by market. Global news flows is so rampant, that to news that are deterrent to market, bulls hardly get a base to move up. Every bull's move is thrashed by either national or international bad news and the charts gets distorted. The undertone of the market says bullishness, but overall picture of the stock market is very uncertain. Looking to the enviorment sourrounding the market, it becomes difficult to find a cues from chart. I mean to say, neither support or resistance in chart will play their role. There is more relevance to play with macros and news flow. Here moreover, fundamentals of corporate has nothing to have much too. Now news flow, macros and sentiment have been screwing to get your strategy.
Say Nifty that has been stuck in range between 5200 and 5400 with +/- 50 points bothside. A trend trade can only be initiated when it breaches its peripheri. Otherwise you find your strategy being stock specific, keeping in mind the range. Or, play some Nifty Options strategies on both side together.
But one thing is clear. Speculation has been heightened to a greater extent where the result favours a few and make loss to a larger mass. Be careful in your trading and investment plan.