Market update 3rd June Wednesday

US markets are up marginally and SGX nifty is also up . we are near very important resistance level now . Momentum Can take this rally to 5000 levels or the correction can take it to 4000 levels again where it can again be a good buy for long term investors . NIFTY PE stands at 21 which is the main discouragement for long term investors


S2 4385.85
S1 4455.5
Pivot *4520.95*
R1 4590.55
R2 4656


What can be done now ?

I believe that trades should be taken on trend basis now , dont fall in that trap of catching the top of bottom and get maximum out of markets , better to go with it .

Buy when 50 EMA crosses above 200 EMA and sell otherwise .