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Tuesday, August 21, 2012

Next big upside only above 5428

I strongly believe that the next BIG upside will only be seen once Nifty closes above 5428.
And 5428 is the immediate resistance for Nifty.
Bullish above 5428....and VICE VERSA...WHERE DOWNSIDE SUPPORT STANDS AROUND 5360. 
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  1. PiyushAugust 21, 2012 at 9:30 PM

    Crossed 5400 and closed above it. But lets look at a few data pointers-
    1. Rupee still near 55
    2. CAG reports.
    3. NDA and other parties demanding Resignations.
    4. Crude Brent at 115+

    Nothing looks rosy except FII's heavy buying daily ( both cash & derivative market). Seems they know 'something' more. But then again, who has the gusto to go against a Liquidity Fed rally. None..
    Another concern is a bull market usually starts with particular sectors performing i.e most of the stocks in that sector will find buying interest. But the ongoing rally is too narrow. This rally might make our Diwali come sooner than expected but will the fireworks last????

    'Ride till it Last'

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