Just a food for thought...
"We need to proactively re-act based on inputs from those who simply act thinking that they actually proactively act"
It was rather a remarkable expiry for the bulls in the march series, touching a high of 3100 levels. Also the theory that bulls are very much in the driver's seat for the expiry and not even a single bear will take home profits if the position is left as it is proved to be right.
Now that march series is history, we need to look forward to the April series and the question is how will the April series span out.
It is already one day since we have traded for the April series which was also controlled by the bulls. But will it sustain? or is it just that everyone should close their books on Mar 31 for the year end and so will keep it high to show profits or rather a reasonable loss when they do a Mark-to-Market.
It is but quite natural that bears will be waiting to take revenge and hereafter any one down move will shake even the strong bulls as the rally has been significant from 2500 levels and is also moving wide from its 20 and 50 DMA.
So before we can conclude on the further course of action, it would be better to let other players decide or rather fight it out and chart something in that course for us to decipher. Till then it would be a wait and watch kind of situation.
What did the food for thought imply? We should not be making any first moves, but rather interpret them and react to that.
Last but not the least, thanks for reading the 'food for thought' atleast thrice !!
Chart courtesy: nseindia.com
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