There is a tug of war between Bulls and bears - Epic Research

Mr Mustafa Nadeem, CEO, Epic Research Pvt. Ltd.

There is a tug of war between Bulls and bears and somewhere undertone suggest that bulls are having better grip in near term. We have had a Bullish reversal pattern yesterday and today we have a Doji with a very small green body. How bulls are having command is interesting as we look at across the sectorial indices, Most of them like Banks, Metal, CNX 500 and CNX 100 have formed doji on the daily chart after a red candle and to add to that we have bullish harami pattern on PSU and Auto. These charts indicate the strength bulls have at lower levels and on the top of it, debt burdened & Interest rate sensitive sector like Reality is leading with investors jumping in with every dip as an opportunity despite indecision of overall trend in short term. IB-Realestate, DLF, HDIL are performing well continuously. Given all this, Till 7700 is not played out it will be advisable to be on buying side.

One should look to add momentum playing stock like Offshore and exploration, Sugar and confectioneries, and Agriculture and fertilizer. They have been beating the index and overall have been the best performer. These sector should be on a buying list as they help in churning out high return on portfolio when market is in consolidation.

Source : Equity Bulls

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