What's going to happen next in PSU stocks?
As today we saw a good correction and majority of stocks fell down 7% to 10% from its recent highs.
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Now seeing this impulsive up move in majority of the PSU stocks I came to one conclusion after seeing today's correction which is right now TWO alternatives views are open in majority of the stocks which is as below
1. As per my first alternatives at recent highs majority of the PSU stocks just completed wave III of 3rd & this correction from ATH is a pull back of wave IV of 3rd and one more up move is pending in Wave V of 3rd to completed larger Wave 3 and after that all PSU stocks I mean majority of the stocks goes into minimum 6 months to 9 months and max 12 months 18 months sideways consolidation in larger degree Wave 4.
2. As per Alternative 2. At recent highs now majority of PSU stocks have completed long term wave 3 and now long term wave 4 correction & consolidation phase started and this stocks will go in minimum 6 months to 9 months and max 12 months to 18 months correction cycle.
As of now no clarity which Alternative is in action 1 or 2.
So how I will come on conclusion which Alternative is in action then My Answer is : I will wait for a Daily positive close candle to get a judgement about which Alternative is active 1 or 2 so before all of you jump into Buy on Dips Buy on Dips FOMO (Fear Of Missing Out) or ROMO (Regret Of Missing Out) mode, make sure to manage a proper position sizing and manage the risk involved in it so later on if Alternative 2 is active then your money does not get stuck and you really don't have to regret much.
