Trading and Investment tips for 2021
The year 2020 was filled with lots of ups and downs. Due to Global COVID-19 pandemic NIFTY50 crashed by almost 4700 points, but after making the bottom around 7500 now trading at all time highs above 14000. This speed of recovery wasn’t expected, that too when we are not 100% ready with the vaccines.
What is ahead now? Will this bull run going to continue in the coming year? Or the overbought market will show a correction? This is the question most of us are having in our minds on this New Year.
Tips for Investors
If you are an investor and wants to invest for a long period of time such as 5-10 years, then you don’t need to look for any levels of the right time to invest in the market. Over such long period of time stock market always give handsome returns. So, you can start your investments from today using SIP. We suggest you to diversify your portfolio as over the period of time some sectors are going to outperform and some will underperform.
Our top picks for investment in 2021
Tips for traders
If you are a trader, one thing you should always keep in mind: Trade with the trend. No matter if it is New Year or mid of the year, trading is profitable only when it is done along with the trend. A successful trader never trades just for the sake of trading, but for the profits.
One who runs after trades, runs out of money! Patience is the key. These days, the market is highly overbought and still rising due to the ongoing successful trails of COVID-19 vaccine news. The market outlook is cautious and the market direction for the coming month is not clear yet as some are expecting a correction because of over bought market and some believes that this bull run will continue as the businesses will grow after this pandemic gets over.
Being a trader, you can use support and resistance levels to trade in this confusing market scenario. Buy on dips and sell on rise strategy always works while using support and resistance levels. Always place a stop loss to minimize your risk and a trailing stop loss to maximize your gains. Visit our website regularly to check out daily support and resistance levels of NIFTY50, BANKNIFTY, etc.
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