Possibly another small dip before there is a proper uptrend: Deepak Mohoni, trendwatchindia.com
This is now an intermediate downtrend that was confirmed yesterday when the indices fell to something like two or three week lows.
| Updated: In a chat with ET NOW, Deepak Mohoni, Director, trendwatchindia.com, talks about today's market outlook.
What is your call on the market and do you think more upside to this rally that we have seen in the first one-one and a half hours?
Quite possibly as you pointed out it is the highest point of the day so it is not given up yet. We could be heading may be another 30-40 points up even seems to have quite a bit of momentum. But at the same time this is now an intermediate downtrend that was confirmed yesterday when the indices fell to something like two or three week lows and chances are that though we comeback quite a bit today we may flatten out or may be have another small dip before there is a proper uptrend again. But nevertheless next dip will be a good time to start investing once more.
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