Going on the upside Nifty likely to face resistance around the region of 5170 and could face selling pressure around those level. Only a closing above 5170-5220 will be considered good for Nifty.
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- Manish Bothra
- Kolkata, India
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Sir,
ReplyDeleteIndices have cracked. F&O data suggests more shorts have entered the system. So i guess Smart money is shorting every rise below 200 DMA. VIX moved up sharply and its a known thing that its has a negative co-relation with INDEX. Lets hope it doesn't fall too much. An interesting thing that has come to notice is that nifty is about to fill a few gaps that it made on the way up. These gaps filling should give us a bounce upwards but sustainability is an issue.
All analysts are Gung-ho about buying nifty and stock with SL at 4850. Not a rocket science thing. Risk and reward is on the side of Bulls from hereon. Another reason the market doesn't look to fall much is FB IPO for US markets. Roadshows have begun and everything will be done to keep markets buoyant till the issue sails thru. What happens post that is anyone's guess...4600/4500... Crude is falling and yet again showing is connectivity with equities. I hope people take note of it this time.
Sorry but i can't end without Babu. His retirement planning is underway ( hope janta understands)...GAAR U-turn....Gold jewellery U-turn....whats next...Vodafone Tax case...I'm waiting for a U-turn...Give him a good deal and lets bid 'him' Good-Bye...
4940-5170 is the likely range for the time being.
ReplyDeletetoday 1 gap got filled and good bounce was seen intraday. If someone is anticipating one side move from hereon, then its a MISTAKE. Every 70-80 pts DIP downwards will find a gap filling, resulting in an intraday rally to catch the shorts in their SHORTS.
ReplyDeleteOne industry that has been the biggest casualty of Babu's career. MFIs....All have been dead buried and long forgotten ( SKS, manupurram)...Consensus is being made to pass a bill with RBI regulation. But the industry has already seen the 'big' interested parties Exit--- leaving a bitter taste in the mouth of 'minority' shareholders.
another bounce played out :)
ReplyDeleteYES...BUT IT CLOSED BELOW 4940....LIKELY TO REMAIN WEAK BELOW IT...WILL POST SOON ON WHAT NEXT???
ReplyDeleteAnother Gap Filled today...
ReplyDelete