Ideally, stoploss for my short positions would be 6220 spot. But conservative traders can have a stoploss of 6150 on closing basis. I am yet to be convinced that the correction witnessed from 6342 has concluded. I would be glad to see Nifty forming a double bottom at 5700, which would then give the market the much needed momentum to take it way above lifetime highs. We should see a bottom in place in a couple of weeks time.
PraDa
PraDa
Nifty Update:
One of the reasons for me to turn mildly bearish recently was the movement of Sensex which breached its previous low of 20164 to make a slightly lower low of 20137, whereas Nifty managed to cling onto its critical 5970 support. As long as Nifty manages to hold onto the rising trend-line indicated in the above chart, it will negate the bearish stance on the market. Short term trend has turned mildly bullish, whereas both the medium term as well as long term trend remains very strongly bullish. Moving into the month of December, I expect Nifty to take out its life time high convincingly and surge past it with ease. Charts of both the BSE midcap index and Bankex is indicating a strong build up of positive momentum. Once BSE midcap index takes out its recent high of 6355, it should target 6580-6600. Bank Nifty as seen above took support at its 61.8 % retracement level and has bounced back strongly ever since. Once 11750-11800 is taken out decisively, we should see a strong upsurge to 12500-13000 levels. A weekly Nifty close above 6350 will accentuate the strong uptrend in the market setting it on a memorable ride. From an investment point of view, this is the time to cherry pick some of the high quality midcap stocks trading at dirt cheap valuations. Who knows, one might never get to see these prices again in his/her lifetime. In 2009, I had bought a chunk of HCL tech at a price of Rs.98 and sold the same once my money tripled and today every one knows what it is quoting at. I can't even dream of buying back HCL tech at 98. Hope you'll get the moral of the story. There are plenty and plenty of extremely high quality stocks quoting at very cheap valuations and I urge you'll to start investing apart from your usual trading activities. All the best and to your trading and enjoy the upcoming Santa Clause ride!
PraDa
One of the reasons for me to turn mildly bearish recently was the movement of Sensex which breached its previous low of 20164 to make a slightly lower low of 20137, whereas Nifty managed to cling onto its critical 5970 support. As long as Nifty manages to hold onto the rising trend-line indicated in the above chart, it will negate the bearish stance on the market. Short term trend has turned mildly bullish, whereas both the medium term as well as long term trend remains very strongly bullish. Moving into the month of December, I expect Nifty to take out its life time high convincingly and surge past it with ease. Charts of both the BSE midcap index and Bankex is indicating a strong build up of positive momentum. Once BSE midcap index takes out its recent high of 6355, it should target 6580-6600. Bank Nifty as seen above took support at its 61.8 % retracement level and has bounced back strongly ever since. Once 11750-11800 is taken out decisively, we should see a strong upsurge to 12500-13000 levels. A weekly Nifty close above 6350 will accentuate the strong uptrend in the market setting it on a memorable ride. From an investment point of view, this is the time to cherry pick some of the high quality midcap stocks trading at dirt cheap valuations. Who knows, one might never get to see these prices again in his/her lifetime. In 2009, I had bought a chunk of HCL tech at a price of Rs.98 and sold the same once my money tripled and today every one knows what it is quoting at. I can't even dream of buying back HCL tech at 98. Hope you'll get the moral of the story. There are plenty and plenty of extremely high quality stocks quoting at very cheap valuations and I urge you'll to start investing apart from your usual trading activities. All the best and to your trading and enjoy the upcoming Santa Clause ride!
PraDa
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. Fundamentals seem to have taken a walk in the park for last couple of years 
Chart: Why this week will determine if Nifty will rally to its all-time high - George Albert
http://www.firstpost.com/investing/...-will-rally-to-its-all-time-high-1258857.html
http://www.firstpost.com/investing/...-will-rally-to-its-all-time-high-1258857.html
Its been a hectic year end and have been preoccupied with plenty of work. As a result updates have been irregular.
Nifty update: Trend is still up and the correction witnessed after taking out the life time high is perceived by me as a simple correction in an ongoing strong uptrend. There have been plenty of bearish voices in the media calling for a deep correction. Unfortunately these voices will be disappointed, once this correction ends. Upcoming eventful week, IMO, will provide the much needed trigger for the market to resume its uptrend. Nifty has strong support below 6150 right upto 6050. Buying on dips is suggested with a target of 6600 in the near term. Wishing one and all a very good year end trading followed by a Fantastic New year ahead.
PraDa
Nifty update: Trend is still up and the correction witnessed after taking out the life time high is perceived by me as a simple correction in an ongoing strong uptrend. There have been plenty of bearish voices in the media calling for a deep correction. Unfortunately these voices will be disappointed, once this correction ends. Upcoming eventful week, IMO, will provide the much needed trigger for the market to resume its uptrend. Nifty has strong support below 6150 right upto 6050. Buying on dips is suggested with a target of 6600 in the near term. Wishing one and all a very good year end trading followed by a Fantastic New year ahead.
PraDa
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