Extremely important day

While I maintain my view that this is a big bull market, it might be going through a bit of a cyclical correction and it is triggered globally. Goods and services tax (GST) will have its impact but the overall market mood is changing a bit. It could be because of crude oil, could be because of global cues but last week from Monday to Friday, all five days, the market made a lower high and a lower low. That is important because even on Friday when the market had a big rally in the last half an hour, it could not take out Thursday’s high.

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