If we look at the above Nifty chart for last one year we see a clear and definite pattern. Nifty after the gap of 3 months corrects 7-8%. The dips were on
1.Nov 3, 2009
2.Feb 15, 2010
3.May 25, 2010
I myself do see a correction and so August will be the month when I offload my portfolio and remain cash heavy (close to 50% in cash).
You do not need to agree on my views because when I discussed the same with my friend he totally disagreed and has contrasting views on the above chart. He told me that this time as we are more in a tight range for last 6 months and there is no bad news expected in results season and so the market should break out on the higher side.
Lets see its only time which will tell us .
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