March 12, 2020

Market outlook

Daily charts:
- trend is down on daily charts
- today nifty closed 8.3% in negative at 10590
- AD was 1:7

- VIX up 30%... this is huge

- rising wedge target met/ exceeded
- above pattern has been discussed every week for past few months

- correction has been brutal
- nifty broke 3 levels 12000, 11000 and 10000 in 3 weeks

- next support 9000
- already people are talking of 6000

- nifty has corrected 22% from all time high
- good time for long investors to start SIP in index based mutual funds
- good names are ICICI, KOTAK, HDFC, SBIN
- deal with AMC / bypass broker and save on brokerage
- choose direct option, growth (not dividend)
- invest 5% of your capital per month for 20 months
- and forget about it

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