AFTER THE FOUR DAYS OF CONTINUOUS FALL IT WITNESSED A SHARP CORRECTIVE RALLY IN INDICES ALONG WITH SHORT COVERING IN STOCKS. SENSEX RALLYING ALMOST 500 POINTS INTRA-DAY, AIDED BY STRONG U.S MARKET OVER NIGHT AND POSITIVE GLOBAL CLUES. THE BSE SENSEX WAS UP 472.93 AT 16524.03 AND NIFTY WAS UP 135.85 AT 4971.25 ON CLOSE. MARKET BREADTH WAS QUITE STRONG AND BOTH MID-CAP AND SMALL-CAP INDICES ENDED IN GREEN.
GOING FORWARD THE BROAD RANGE FOR THE NIFTY SHALL BE 4750-5170. MAJORITY OF ANALYSTS BELIEVE THAT THAT THIS IS CORRECTIVE RALLY AND MAY FIZZLE OUT SOON AS IT REACHES 5100-5200 LEVELS. THE BROAD OUTLOOK REMAINS GRIM AS NOTHING HAS CHANGED POSITIVE OVERNIGHT. ANALYSTS ALSO BELIEVE THAT INDIAN MARKETS ARE NOT CHEAP AND NIFTY COULD SETTLE AROUND 4400-4500 VERY SOON.
HENCE ON THIS BASIS THE CONSENSUS BELIEVE THAT 4750-5170 SHALL BE THE BROAD RANGE AND BREAK OF EITHER SIDE SHALL BRING 300 POINTS MOVE. CLEARLY THE TREND IS DOWNWARDS.
BROAD STRATEGY: BUY IN SELECT STOCKS OF YOUR CHOICE, WHICH COULD FETCH VALUE CREATING TO SHAREHOLDERS. SOME OF THE STOCKS WERE MENTIONED YESTERDAY. BUY SOME PUTS OF OCTOBER SERIES OF STRIKE PRICE PE 5100, PE5000, PE4900 & PE4800 THIS MAY HEDGE YOUR PORTFOLIO AND MAY GIVE SOME PROFITS TOO.
ASTROLOGICALLY: 3RD, 4TH & 10TH ARE CRUCIAL DATES IN OCTOBER WHICH COULD GIVE SHOCKS TO MARKETS. BUYING OF OCTOBER PUTS SHALL BE GOOD.
ITS IMPORTANT TO SEE HOW 27TH & 28TH PANS OUT IN AMERICA, IF IT GOES POSITIVE, THEN THE NEXT DATES OF OCTOBER, MENTIONED ABOVE, SHALL BE THE CRUCIAL DATES FOR TRIGGER.
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 THE BROAD RANGE FOR THE NIFTY SHALL BE 4750-5170. MAJORITY OF ANALYSTS BELIEVE THAT THAT THIS IS CORRECTIVE RALLY AND MAY FIZZLE OUT SOON AS IT REACHES 5100-5200 LEVELS. THE BROAD OUTLOOK REMAINS GRIM AS NOTHING HAS CHANGED POSITIVE OVERNIGHT. ANALYSTS ALSO BELIEVE THAT INDIAN MARKETS ARE NOT CHEAP AND NIFTY COULD SETTLE AROUND 4400-4500 VERY SOON.
HENCE ON THIS BASIS THE CONSENSUS BELIEVE THAT 4750-5170 SHALL BE THE BROAD RANGE AND BREAK OF EITHER SIDE SHALL BRING 300 POINTS MOVE. CLEARLY THE TREND IS DOWNWARDS.
BROAD STRATEGY: BUY IN SELECT STOCKS OF YOUR CHOICE, WHICH COULD FETCH VALUE CREATING TO SHAREHOLDERS. SOME OF THE STOCKS WERE MENTIONED YESTERDAY. BUY SOME PUTS OF OCTOBER SERIES OF STRIKE PRICE PE 5100, PE5000, PE4900 & PE4800 THIS MAY HEDGE YOUR PORTFOLIO AND MAY GIVE SOME PROFITS TOO.
ASTROLOGICALLY: 3RD, 4TH & 10TH ARE CRUCIAL DATES IN OCTOBER WHICH COULD GIVE SHOCKS TO MARKETS. BUYING OF OCTOBER PUTS SHALL BE GOOD.
ITS IMPORTANT TO SEE HOW 27TH & 28TH PANS OUT IN AMERICA, IF IT GOES POSITIVE, THEN THE NEXT DATES OF OCTOBER, MENTIONED ABOVE, SHALL BE THE CRUCIAL DATES FOR TRIGGER.
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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