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There is no reason why the markets should not be positive today. Technically it looks a bit weak but ascending towards previous highs. Global markets are positive to mixed, currency and crude are stable and so are other precious commodities. Yesterday, Nifty fell naturally as it was supposed to touch the trend which was nothing but the profit booking appetite. Once it breaks 8400 and sits comfortably above that for a reasonable period, may be for two or three days, Nifty may touch it previous life high where we would see some"shelling". If it doesn't, then the rest of the week seems range bound between 8000-8300 band. Continue reading
As expected, Nifty seems to be in good mood to race towards 8400 and fill the gap it created on terrible last Tuesday. Get rid of your stocks which are not moving so that you can get out of the trap. Overall there seems to be a good resistance around 8365-8400-8450 levels. It is very funny how market plays games with investors. Last Tuesday when Crude fell strongly, Indian markets reacted sharply by nosediving, it's the same situation today as well but today it looks much more cheerful!! Globally Asian markets are mixed but due to domestic data of IIP and CPI, Indian equities are expected to perform well. Nifty looks volatile so be cautious, but be a buyer today. Rest of the week seems to be range bound between 8300-8000. Continue reading
Friday's end of day activity sets some positive note for Monday. Hopefully Nifty will race towards its previous high levels in this week. However the indications are not that strong…but getting thereJ. Global markets are mixed, Europe is a worry since it was sharply down around 2% but doesn't looks like a great scare for Indian equities. Rupee is well above 63 and going strong. Looks like some positive momentum to kick in throughout the day. Be a buyer with caution. You can look at offloading some of your bad stocks which may have trapped your investments. The upper wide channel of Nifty is indicating something. More to come on this topic. Continue reading