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Don't get carried away by momentum, use rallies to exit longs:Angel Broking

Stock calls and outlook on Nifty by Sameet Chavan, Chief Analyst- Technical & Derivatives, Angel Broking:

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Sameet Chavan New Delhi
Stock calls and outlook on Nifty by Sameet Chavan, Chief Analyst- Technical & Derivatives, Angel Broking:
 
Nifty Outlook
 
This week, markets behaved like a double-edged sword as we saw some follow through selling in the initial part after last week’s intimidating selling and then the latter part was clearly dominated by the optimistic traders. In fact, the momentum was so strong; the Nifty managed to recover previous four days of losses in last couple of sessions to eventually end up reclaiming the 10250 mark on a closing basis.
 
Now, the question arises whether this is just a