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Buy the dips, sell the rallies
The market trend continues to remain positive, however, expensive valuations limit the near-term upside, say, analysts. They believe traders can make money in the current environment by going out and buying whenever the market falls. Later, sell whenever stocks rally and wait for corrections to re-enter.
“We are of the view that the short-term trading setup is positive and the ideal strategy would be to buy on dips and sell on rallies. In the near future, the 16,400-16,320 levels would act as a key support zone for the Nifty. If the index manages to trade above
