V shaped bounce continues

In last 18 months , market has been characterised by sharp V shaped recoveries after correction. Very sharp bounces where beaten down sector lead for few days is the nature of these rallies. The rallies have lead to marginal high and then the momentum has petered out.

We have seen same kind of bounce in last couple of weeks and it is again starting to lose momentum and unless fresh buying comes in many stocks are not making much progress after their initial breakout.

A period of sideways consolidation or minor pullback can set us up for further gains.

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