October and Stock market

True to its character, the month of October proved to be a damp squib for the stock market. The Indices moved nowhere for the whole month, finishing at the same level where it started. And it gave a scare of sorts to lot of Technical Analysts on the last day(29th October) when in broke their so called critical levels of 5950-5960 in Nifty and 19865 in Sensex intraday. But then with the regular index managers, it was propped up back to 6000 and 20000 - to sooth their nerves for weekly/monthly charts. While the indices have fallen just 5% from their recent tops, so many stock have fallen anywhere between 10% and 20%, as is always the case. The Huge volume in the F&O segment along with the recent volatility suggests that's market is likely to take a directional movement soon. IMO, there is more likelihood of being downside than upside. I am waiting for this correction for the last 3-4 months but that's is stock market for you. It will choose its own time to move where it wants to move. Lets be prepared for such move to pick good stocks and build our Portfolio for long term wealth creation. Best of Luck!!!!!