ON STRONG & POSITIVE GLOBAL CUES, INDIAN STOCK MARKET STARTED STRONG AND GRADUALLY INCHED UP. AN OPTIMISTIC ASSESSMENT OF US ECONOMY BY FED CHAIRMAN ON FRIDAY, 26TH AUGUST 2011, BOOSTED THE SENTIMENTS ACROSS THE GLOBE. ALSO THE CALL-OFF OF HUNGER PROTEST BY SRI ANNA HAZARE OVER THE ANTI CORRUPTION BILL ALSO ADDED STIMULUS TO THE DOMESTIC RALLY IN INDIAN MARKETS TODAY. NIFTY CLOSED AT 4919.60 UP BY 171.80 POINTS(3.62%) & SENSEX CLOSED AT 16416.33 UP BY 567.50(3.58%). MARKET BREADTH WAS POSITIVE. BOTH MID-CAP & SMALL-CAP INDEX WERE UP BY MORE THAN 2.0%. FIIs WERE NET BUYERS & DIIs WERE NET SELLERS IN THE CASH MARKET.
GOING FORWARD, MARKET IS LIKELY TO CONSOLIDATE IN THE NEAR TERM IN A SMALL RANGE OF 4950-4860 AND TRADE ACCORDING TO GLOBAL CUES. INDIA'S GDP DATA SHALL ALSO AFFECT THE MARKET SENTIMENT TODAY. SO IT WILL BE A CAUTIOUS APPROACH TODAY. BREAK OF 4950 SHALL TAKE THE MARKET TO 4980 & 5040. ON THE OTHER HAND IF NIFTY BREAKS 4860 ON THE LOWER SIDE IT MAY GET SUPPORT AT 4810 & THEN AT 4760. THE MARKET TREND IS DOWN HOWEVER THERE IS STEEP SHORT COVERING RALLY( AS SAID YESTERDAY) AND THIS MAY FIZZLE OUT SOON. HOWEVER ONE MUST NOT SHORT BLINDLY BUT A SLOW APPROACH IS NEEDED AT THIS POINT OF TIME.
TODAY'S TRADE SHALL NOT PROVIDE A TRADING OPPORTUNITY IN THE MARKET. HENCE ONE SHOULD STAY AWAY FROM THE MARKET TODAY. HOWEVER ONE SHOULD START ACCUMULATING PUTS OF NIFTY [ PE 4700, PE4800, PE4900 & PE5000] AND BEARISH STOCKS[DELTA & CHAMBAL ETC.] AS IT MAY GIVE PROFITS ON RESUMPTION OF DOWN TREND, MOST PROBABLY FROM FRIDAY.
ASTROLOGICAL NOTE: WE MAY SEE SHARP FALL ON FRIDAY DUE TO GLOBAL CUES FROM EUROPE & U.S FROM 1ST SEPTEMBER 2011.
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.
GOING FORWARD, MARKET IS LIKELY TO CONSOLIDATE IN THE NEAR TERM IN A SMALL RANGE OF 4950-4860 AND TRADE ACCORDING TO GLOBAL CUES. INDIA'S GDP DATA SHALL ALSO AFFECT THE MARKET SENTIMENT TODAY. SO IT WILL BE A CAUTIOUS APPROACH TODAY. BREAK OF 4950 SHALL TAKE THE MARKET TO 4980 & 5040. ON THE OTHER HAND IF NIFTY BREAKS 4860 ON THE LOWER SIDE IT MAY GET SUPPORT AT 4810 & THEN AT 4760. THE MARKET TREND IS DOWN HOWEVER THERE IS STEEP SHORT COVERING RALLY( AS SAID YESTERDAY) AND THIS MAY FIZZLE OUT SOON. HOWEVER ONE MUST NOT SHORT BLINDLY BUT A SLOW APPROACH IS NEEDED AT THIS POINT OF TIME.
TODAY'S TRADE SHALL NOT PROVIDE A TRADING OPPORTUNITY IN THE MARKET. HENCE ONE SHOULD STAY AWAY FROM THE MARKET TODAY. HOWEVER ONE SHOULD START ACCUMULATING PUTS OF NIFTY [ PE 4700, PE4800, PE4900 & PE5000] AND BEARISH STOCKS[DELTA & CHAMBAL ETC.] AS IT MAY GIVE PROFITS ON RESUMPTION OF DOWN TREND, MOST PROBABLY FROM FRIDAY.
ASTROLOGICAL NOTE: WE MAY SEE SHARP FALL ON FRIDAY DUE TO GLOBAL CUES FROM EUROPE & U.S FROM 1ST SEPTEMBER 2011.
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.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.