ITS A IMPORTANT WEEK AS FAR AS INDIAN ECONOMY IS CONCERNED BUT MARKETS HAVE TAKEN THE CUES FAR MORE EARLIER THAN IT SEEMS. HENCE BUDGET IS NOW PRICED IN AND MARKETS ARE ENTERING THE BUDGET WITH LEAST EXPECTATION. MAJORITY OF SHORTS HAVE BEEN COVERED, OPEN INTEREST IS LOW, PCR IS BELOW 1, SERIES IS NEWS WITH CAUTIOUS APPROACH, EVERY ONE HAS EYES ON RISING OIL PRICES, DEVELOPMENTS IN LYBIA & AMERICAN MARKETS HAVE TURNED TO BE POSITIVE.
NIFTY AFTER TOUCHING LOW OF 5230 BOUNCED BACK AND WENT HIGH OF 5340 AND THEN AFTER THE VOLATILE MOVES SETTLED ABOVE 5300. THIS SHOWS THATS THERE WAS BUYING INTEREST CUM SHORT COVERING AT THE LOWER LEVEL AND 5200 SEEMS TO BE A INTERIM BASE BUT THIS SHORT TERM BASE MAY BE VIOLATED ANY TIME IN THE MARCH IF NIFTY FAILS TO SUSTAIN 5300-5280. DOWN SIDE SEEMS TO BE 5170-5130-5000. BUDGET MAY NOT BE THE MAIN REASON FOR FALL BELOW 5170 BUT ANY NEGATIVE GLOBAL CUES MAY LEAD THE DECLINE.
HENCE SHORTING THE MARKET NOW AT 5300 LEVELS IS NOT A GOOD IDEA. SHORTING WILL BE ADVISABLE ONLY ON RISE TILL 5400-5470 WITH STOP LOSS OF 5555 ( CLOSING BASIS) WITH A TARGET OF 5230-5170-5100-5000. CONVERSELY ANY CLOSING ABOVE 5550 WITH POSITIVE GLOBAL CUES LIKE SETTLING OF THE ISSUES OF LYBIA, COOLING DOWN OF THE OIL PRICES, ETC WILL LEAD A SUPER RALLY TO 5800-5900 VERY SOON. THE CHANCES OF IMMIDIATE RALLY SEEMS DIFFICULT AND MUCH DEPENDS HOW FIIs INTERPRET THE BUDGET AND DEVELOPMENTS AHEAD.
FOR THE BUDGET DAY
NOW ANY POSTIVE(S) IN BUDGET SHOULD BE USED TO EXIT THE STOCKS AND BOOK PROFITS WHICH I HAVE ALREADY MENTIONED IN THE BLOG EARLIER. HENCE NO FRESH BUYING ADVISE OR RECOMMENDATION IS MADE.
DONT TRADE TODAY YOU MAY LOOSE MONEY & WISDOM BOTH...................
HENCE SIT ASIDE AND WATCH THE DADA's MATCH IF NOT THE CRICKET MATCH
NIFTY AFTER TOUCHING LOW OF 5230 BOUNCED BACK AND WENT HIGH OF 5340 AND THEN AFTER THE VOLATILE MOVES SETTLED ABOVE 5300. THIS SHOWS THATS THERE WAS BUYING INTEREST CUM SHORT COVERING AT THE LOWER LEVEL AND 5200 SEEMS TO BE A INTERIM BASE BUT THIS SHORT TERM BASE MAY BE VIOLATED ANY TIME IN THE MARCH IF NIFTY FAILS TO SUSTAIN 5300-5280. DOWN SIDE SEEMS TO BE 5170-5130-5000. BUDGET MAY NOT BE THE MAIN REASON FOR FALL BELOW 5170 BUT ANY NEGATIVE GLOBAL CUES MAY LEAD THE DECLINE.
HENCE SHORTING THE MARKET NOW AT 5300 LEVELS IS NOT A GOOD IDEA. SHORTING WILL BE ADVISABLE ONLY ON RISE TILL 5400-5470 WITH STOP LOSS OF 5555 ( CLOSING BASIS) WITH A TARGET OF 5230-5170-5100-5000. CONVERSELY ANY CLOSING ABOVE 5550 WITH POSITIVE GLOBAL CUES LIKE SETTLING OF THE ISSUES OF LYBIA, COOLING DOWN OF THE OIL PRICES, ETC WILL LEAD A SUPER RALLY TO 5800-5900 VERY SOON. THE CHANCES OF IMMIDIATE RALLY SEEMS DIFFICULT AND MUCH DEPENDS HOW FIIs INTERPRET THE BUDGET AND DEVELOPMENTS AHEAD.
FOR THE BUDGET DAY
NOW ANY POSTIVE(S) IN BUDGET SHOULD BE USED TO EXIT THE STOCKS AND BOOK PROFITS WHICH I HAVE ALREADY MENTIONED IN THE BLOG EARLIER. HENCE NO FRESH BUYING ADVISE OR RECOMMENDATION IS MADE.
DONT TRADE TODAY YOU MAY LOOSE MONEY & WISDOM BOTH...................
HENCE SIT ASIDE AND WATCH THE DADA's MATCH IF NOT THE CRICKET MATCH
Safe Harbor Statement:
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.Nothing in this article is, or should be construed as, investment advice.
Disclaimer:
This is neither an offer nor a solicitation to purchase or sell securities. The information and views contained on this blog are believed to be reliable, but no responsibility (or liability) is accepted for errors of fact or opinion. Writers and contributors may be trading in, or have positions in the securities mentioned in their articles. Neither I (Vikas Srivastava) nor any of the contributors accepts any liability arising out of use of the above information/article. Reproduction in whole or in part without written permission is prohibited.
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.Nothing in this article is, or should be construed as, investment advice.
Disclaimer:
This is neither an offer nor a solicitation to purchase or sell securities. The information and views contained on this blog are believed to be reliable, but no responsibility (or liability) is accepted for errors of fact or opinion. Writers and contributors may be trading in, or have positions in the securities mentioned in their articles. Neither I (Vikas Srivastava) nor any of the contributors accepts any liability arising out of use of the above information/article. Reproduction in whole or in part without written permission is prohibited.
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