Its better to lose an opportunity than to lose money. People at this point can digest that these levels are not meant for buying.But that leads to a question, when will the market correct and by how much? The answers to which do not give them comfort.
The problem with trends is that one can never say when they will end. And making contrarian calls by calling the tops and bottoms is putting your knowledge on the line in public domain.
The only thing that can propel the markets higher from here are the Q4 results and the market may consolidate before it reacts to the same. But we are at such levels that disappointment on the results front can lead to a good correction.
Its better to wait on sidelines and hold what you have with small stoplosses.
Have a cautious trading day,
Regards,
Rahul T.
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