'Follow-Up Buying Is The Key''; Are We On The Verge Of A Giant Move? | Editor's Take On Price Action

you know if we see a fall of buying today and little bit on Monday I think uh we are in for a giant move it is pretty much like what we saw same time last year uh September October where we were of the view that we would be for an Happy Diwali and a merry Christmas I think we could be in for that last big hurah and that last big hurah is not done when you see a move like this two things happen folks who are in a hation mode they suddenly take notice of and then they could come back and then if we see follow up buying in small and midcap stocks there could be a big for Mo see markets are moving because of flows and technicals it's not because of news or valuations as long as globally things are flat to stable and there is no incremental damage there lot of this crowd which is on the sidelines I think could start incrementally making a comeback so are we there well we've got early signs that maybe we are reaching there where the former crowd or the Bulls which have gone on a holiday for those who are talking about valuations being stretched that crowd which is more like a opinion based crowd could be tempted to make a comeback if there is follow of buying so lot really depends on whether we will see follow of buying or not or was yesterday's price action was just a one day wonder I think it may just be more than a one day Wonder because for the first time you got the macro alignment with you and then the macro aligns with you on interest rates on inflation on flows on currency then flows come from foreign investors and when dis are buying FIS are not selling then what happens buying bit stock prices will go higher so if you see fall of buying lot of this crowd who being say valuations mangi all that crowd will come back

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