sensex

i was expecting a new high on diwali day. but it hasnot xome as yet. a large part of my thought process was that coal india had to do well , which would need bullish undertone.

so there has been a complacency of sort that sensex will make a new high.its given.

but market akways has a n ace up its sleeve.so its consolidating again ,which in my opinion is a good thing.( it also helps to see a correction with nil position!)

markets need to get into a panic zone which today it is on the verge of entering.its right from 6165 to 6125 and then all the way upto 6020 nse spot.

which means between these levels and upto 6020 levels a base will be formed which will take the index to new high.though its unlikely that it will go below 6100 spot.its good that it s consolidating and correcting now. it will take off the bullishness and create a base so that new highs are more sustainable,than just a touch and go situation.