A POSITIVE START IN THE MARKET ENDED IN THE RED AFTER THE WIPRO NUMBERS WERE OUT. INDIAN MARKETS TOOK A SHARP FALL PHARMA, BANKING , AUTO & CAPITAL GOODS WERE DOWN. SENSEX ENDED AT 18502 (DOWN 151 POINTS) AND NIFTY AT 5567 (DOWN 46 POINTS) MARKET BREADTH WAS DOWN AND THE FIIs WERE NET SELLERS IN THE CASH MARKET.
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.
AS MENTIONED EARLIER NIFTY IS STRUGGLING TO CROSS 5580 , WHERE 200 DEMA LIES. NIFTY TRADED IN BETWEEN 5645-5555 AND SETTLED AT 5567. RANGE FOR TODAY SHOULD BE 5525-5610 HAVING SUPPORT AT 5500-5490, BELOW WHICH 5440 WILL BE THE STRONG SUPPORT, IF NIFTY BREAKS 5525, ON THE OTHER HAND RESISTANCE FOR THE NIFTY IS AT 5655 & 5690-5710. FALL IN THE MARKET SUGGEST THAT THERE HAS BEEN SELLING AT THE RESISTANCE LEVEL AND GOING FORWARD MARKET MAY SHOW SOME MORE WEAKNESS. TODAY THERE COULD BE GREEN START AND NIFTY MOVING TO 5600 LEVELS, HOWEVER THERE WILL BE SELLING PRESSURE AND NIFTY TO TRADE IN A RANGE. BUYING CALL OPTIONS MAY GIVE PROFITS AT THE END OF THE JULY SERIES. BUYING OF ANY STOCK FOR AUGUST SERIES IS NOT SUGGESTED.
ASTROLOGICALLY: THERE COULD BE A BREAKOUT OF THE TRADING RANGE IN THE DOWN SIDE STARTING FROM 3RD AUGUST WHEN MERCURY GETS RETROGRADE IN LEO, TRADERS, INVESTORS AND SPECULATORS ARE REQUIRED TO KINDLY REDUCE LEVERAGED POSITION IN DELIVERY STOCKS AND HOLD NO LONG POSITION IN FUTURE & OPTIONS.(KINDLY NOTE THAT I AM NOT SUGGESTING TO SHORT THE MARKET)THERE ARE 30% CHANCE THAT I MAY GO WRONG, SO CHANCES ARE BRIGHT THAT MARKET WILL CORRECT FROM 3RD AUGUST, IF NOT WE WILL REVISE OUR VIEW ON 1ST AUGUST.
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.
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