Nifty had major upside push today and everybody started asking me is this the end of pullback here? Pundits started taking about lets go long guys lets go long. But in reality it doesn't look like a strong push for bulls move. Not many stocks moved higher in my radar, I would have been excited if more stocks have participated in this rally.
Overbought-oversold ratio turned little positive but not enough to get excited for long long positions.
Again it was a good positive day but overall I don't thing this is a very strong market as of yet.. Once market goes above 5421 I will be ready to take higher risk in the market till then I will look for both long and short setups....
Looking at many charts in the market, it doesn't look like a promising rally and it may not survive tomorrow based on todays action. But if we get major push in the market, it may go higher....... not a good time to invest big....
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