NIFTY RALLIED 132 POINTS AND SENSEX 465 POINTS ON FRIDAY. NIFTY MANAGED TO CLOSE ABOVE 5650 FOLLOWED BY ALL ROUND BUYING AND SHORT COVERING AS THE MARKET BROKE THE UPPER LIMIT OF THE RANGE OF LAST TWO MONTHS.
NOW THE MARKET WILL TEST 200 D.M.A WHICH IS NOW 5690 AND 5750 MAY BE A VERY TOUGH RESISTANCE TO CROSS. NIFTY MAY NOT BE ABLE TO CROSS ABOVE 5750 IN HURRY AND IT MAY TAKE REALLY STIMULATING TRIGGERS TO MAKE THE FRESH UP MOVE ABOVE 5750. SINCE Q4 RESULTS ARE WILL START DROPPING IN FROM HERE ON TILL 2ND/3RD WEEK APRIL 2011. MARKET WILL CONSOLIDATE TO THE NEW RANGE 5750-5550. NOW BREAK ON EITHER SIDE SHALL INVITE FRESH 200 POINTS MOVE. HOWEVER THE CHANCES ARE MORE THAT NIFTY WILL DRIFT DOWN SIDE TO CONSOLIDATE.
IT IS WORTHWHILE TO NOTE THAT MARKET HAS STILL NOT GIVEN ANY CLEAR SIGNAL THAT DOWNWARD TREND HAS ENDED AND THE UP TREND HAS STARTED. STILL NIFTY IS IN BEAR MARKET AND THIS IS CORRECTIVE RALLY FROM 5170 AFTER A TIME WISE CORRECTION ( 2 MONTHS). HENCE 5650-5750 SHALL BE A GOOD RANGE TO EXIT ALL LONG POSITIONS AND SIT ON CASH. WAIT FOR CORRECTION TO END AND THEN START BUYING.
NO STOCKS ARE RECOMMENDED AT THIS LEVEL FOR TRADE & DELIVERY. WAIT & WATCH MARKET WILL BE VERY CHOPPY AND DECLINE VERY SOON
Safe Harbor
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.
NOW THE MARKET WILL TEST 200 D.M.A WHICH IS NOW 5690 AND 5750 MAY BE A VERY TOUGH RESISTANCE TO CROSS. NIFTY MAY NOT BE ABLE TO CROSS ABOVE 5750 IN HURRY AND IT MAY TAKE REALLY STIMULATING TRIGGERS TO MAKE THE FRESH UP MOVE ABOVE 5750. SINCE Q4 RESULTS ARE WILL START DROPPING IN FROM HERE ON TILL 2ND/3RD WEEK APRIL 2011. MARKET WILL CONSOLIDATE TO THE NEW RANGE 5750-5550. NOW BREAK ON EITHER SIDE SHALL INVITE FRESH 200 POINTS MOVE. HOWEVER THE CHANCES ARE MORE THAT NIFTY WILL DRIFT DOWN SIDE TO CONSOLIDATE.
IT IS WORTHWHILE TO NOTE THAT MARKET HAS STILL NOT GIVEN ANY CLEAR SIGNAL THAT DOWNWARD TREND HAS ENDED AND THE UP TREND HAS STARTED. STILL NIFTY IS IN BEAR MARKET AND THIS IS CORRECTIVE RALLY FROM 5170 AFTER A TIME WISE CORRECTION ( 2 MONTHS). HENCE 5650-5750 SHALL BE A GOOD RANGE TO EXIT ALL LONG POSITIONS AND SIT ON CASH. WAIT FOR CORRECTION TO END AND THEN START BUYING.
NO STOCKS ARE RECOMMENDED AT THIS LEVEL FOR TRADE & DELIVERY. WAIT & WATCH MARKET WILL BE VERY CHOPPY AND DECLINE VERY SOON
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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