March 30 Market Analysis (NSE)

We still have very strong negative movement behind us and last time it happend market went down for 14 months. I am not really positive with this market but yes we will get couple of upside swings to play but not a good market to take higher risk....while going up.....

Market had a very strong breadth, similar to Feb 28th. I do expect Nifty to have follow throught UP move on Monday and may have couple of more follow up day. The key area I am looking for the market to break is 5364.

I will be adding little higher risk after market crossed 5364 and will analyze if we are getting positive momentum before that ......

Overbought-oversold ratio has turned sharply to positive side which is a very good sign.

Looking at above, I believe we should have at least some upside move in next couple of days but until it crosses 5364, one should not add higher risk..... as market can reverse at any time..... 

This is the best time to be a day trader.... (which I don't want to do.... so cash is the king)