For this whole week we saw green candles on the NIFTY futures, which clearly shows that there is interest on the upside. There is lot of interest in the beaten down stocks and have been giving huge returns, but NIFTY itself is still trading in a range with Green candle closes which is still a good news, and it can breakout on the upside with large caps adding some more gains.
If you look at the recent trading activity, the stocks (HUL, Bajaj Auto, ACC, Ambujacem, all IT) that were showing relative strength till NIFTY was coming down, have started correcting or showing weakness. Only coming weeks will tell if the money is moving where it is finding value and we are going to move up from here or we will see more downsides with FMCG and pharma also adding to declines along with NIFTY and everything else.
I was watching a recent Jim Rogers interview wherein he mentions that there are elections in about 40 countries!!! So, few things will get postponed coz of posterboyz
If you look at the recent trading activity, the stocks (HUL, Bajaj Auto, ACC, Ambujacem, all IT) that were showing relative strength till NIFTY was coming down, have started correcting or showing weakness. Only coming weeks will tell if the money is moving where it is finding value and we are going to move up from here or we will see more downsides with FMCG and pharma also adding to declines along with NIFTY and everything else.
I was watching a recent Jim Rogers interview wherein he mentions that there are elections in about 40 countries!!! So, few things will get postponed coz of posterboyz
