The Nifty closed about 3 pc lower for the week. After a massive 1000 point rally from 5118, the index seems to be cooling off as the breadth becomes narrower and narrower.1. The news flow seems to have been exhausted for the markets. After the rapid movements of August and early September, the indices are cooling off which is a good sign.2. From here, where the markets can be anybody's guess. There are 3 options:a. Straight up from here (Least Likely)b. Correct to 5500 levels and then rally upc. Continue with the long term correction.Options...
Sunday, 29 September 2013
Sunday, 22 September 2013
Markets at Key Point
Posted on 00:31 by Unknown
The Markets rallied on hearing the FED will not halt Quantitative easing and fell on the RBI policy. The markets closed up 2.4 pc for the week. Let us look at the Technicals and Fundamentals.Fundamentals:1. With easy liquidity on tap, as long as FIIs buy, the markets can go up. There were 2 main irritants, Syria and the FED stopping the easing.2. The drama over shut down in US over spending and H1 Results can be negative for the markets.3. The RBI has made it clear for the moment, it has done what it could have done. No more cues at least in the...
Sunday, 15 September 2013
News driven Week
Posted on 05:59 by Unknown
The truncated week started with a big bang. The markets ended up with a net gain of 3 pc for the entire week. The coming week will be decisive for the markets in the short term.1. The FOMC decision on tapering comes on Wednesday (our markets will get impacted on Thursday) and we have our RBI policy on Friday the 20th.2. Both are news based events and it depends on what the FED says. My guess is some amount of tapering will be announced.3. 6000 is a key resistance beyond which we may scale new highs.4. Any rally has to correct. The current rally...
Monday, 9 September 2013
Relief Rally On
Posted on 00:22 by Unknown
The markets have bounced back well from 5118 to rally almost 570 points. Let us see what the next steps for this rally could be.1. The entire range from 5720 - 5800 has a lot of resistances. The golden ratio for the fall from 6093 comes at 5721 and for the entire fall from 6229 comes at 5804.2. The 200 EMA comes at 5724 and the 200 DMA comes at 5834. The 50 DMA also comes in at 5704.3. The current up move can lead to new highs if we cross the 6000 mark.4. We have taken 9 sessions to fall from 5754 to 5118 ad so far 7 sessions to reach 5680....
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