NIFTY FIFTY
- Thread starter AMITBE
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One pattern that has emerged over a period of time is that the players lose nerves each time the Nifty hits upon the big round figures like 2700-2800-2900-3000.
At and around each of the above levels the Nifty has seen a sharp retracement of between 50 to 100 points.
So there is nothing unusual about whats been going on in the markets recently, coming off the 3000 mark.
The reasons are numerous, like the global markets, surging oil prices, interest rates and what have you.
The one main reason is that the smart money has been smart yet again.
The market movers like the FIIs and our own funds and HNIs have booked profits at every psychological landmark, and other than buying in on a few select counters, have sat back awaiting a pullback to move in again.
And as far as all this goes, it does appear as if they are bracing up for another bout of buying. The spurt in quality midcaps on Friday is a good enough indicator.
When this activity would get underway is not too clear, looking at the international horizon this morning.
Then of course the Ambani brothers are at it again.
So, the picture does appear to a have strong undercurrent but uncertainty prevails on account of the two factors above.
To the levels, the areas of support which have been written here on Thursday and Friday (-2952-2945-2938-2931-2924-2917-) have one by one been tested to the down.
On Friday 2932 had helped arrest the slide, and as the market slips lower the nerves would give faster.
2924 and 2917 are yet to tested. If they are, there are a few other supports at 2914-2908-2905.
Together the supports for now are 2938-2932-2929-2925-2922-2918-2914-2911-2908-2905. The important amongst these are 2932-2922-2914-2908-2905.
To the up, 2944 is important to hold above. Then 2947-2950-2954.
2958-2959 is another vital mark and if held, there would be strength in the market.
Further up then would be 2963-2966-2970-2974.
At and around each of the above levels the Nifty has seen a sharp retracement of between 50 to 100 points.
So there is nothing unusual about whats been going on in the markets recently, coming off the 3000 mark.
The reasons are numerous, like the global markets, surging oil prices, interest rates and what have you.
The one main reason is that the smart money has been smart yet again.
The market movers like the FIIs and our own funds and HNIs have booked profits at every psychological landmark, and other than buying in on a few select counters, have sat back awaiting a pullback to move in again.
And as far as all this goes, it does appear as if they are bracing up for another bout of buying. The spurt in quality midcaps on Friday is a good enough indicator.
When this activity would get underway is not too clear, looking at the international horizon this morning.
Then of course the Ambani brothers are at it again.
So, the picture does appear to a have strong undercurrent but uncertainty prevails on account of the two factors above.
To the levels, the areas of support which have been written here on Thursday and Friday (-2952-2945-2938-2931-2924-2917-) have one by one been tested to the down.
On Friday 2932 had helped arrest the slide, and as the market slips lower the nerves would give faster.
2924 and 2917 are yet to tested. If they are, there are a few other supports at 2914-2908-2905.
Together the supports for now are 2938-2932-2929-2925-2922-2918-2914-2911-2908-2905. The important amongst these are 2932-2922-2914-2908-2905.
To the up, 2944 is important to hold above. Then 2947-2950-2954.
2958-2959 is another vital mark and if held, there would be strength in the market.
Further up then would be 2963-2966-2970-2974.
Mr.Rishi Sakhuja has a website by the name www.sharetipsinfo.com. On this forum he has disguised himself as a novice "rishi" who wants advice on this aforementioned website...
Ingeniuos way..cud be termed as diguise marketing..
I think we somehow need to ban all these posts...and others like Indiabulls..but ofcourse it depends on the consensus opinion..
Bye
Gaurav
Ingeniuos way..cud be termed as diguise marketing..
I think we somehow need to ban all these posts...and others like Indiabulls..but ofcourse it depends on the consensus opinion..
Bye
Gaurav
Sensex at 10000 (and down again a tad) has been much celebrated and applauded, and rightly so.
Its a privilege to be participating in the markets in these historical times.
Kudos to India for taking the lead in all areas of growth and development, and no wonder we are the preferred destination for market players worldwide.
On a sobering albeit lighter note, there was this real-life bull being shown on one of the popular business channels at the time the Sensex had just nosed past 10000. The host kept saying how beautiful the creature looked, all decked-up with a cloak draped over its body which of course had the figure 10000 shimmering on it.
All creatures mother nature creates are beautiful, yet as far as visual aesthetics go, this poor bull, Im afraid, didnt quite possess the majestically inspiring carriage nor bearing nor the vigour of a bull you would associate with the momentous occasion being celebrated.
Obviously it was hustled together at the last moment, as the business channel and all the experts didnt quite expect where things were heading when yesterday began.
I do so much hope for all our sakes that this bull will eventually fatten and put on some bulk going ahead, and will shine forth from strength to strength.
Nothing more to say beyond this for now, as all that has to said has been said by financial experts by now.
Just one word comes to mind: Caution. Extreme caution.
To the up, its important to stay above 3008-3013-3018-3023 if the momentum is to be maintained. 3028 may pose a strong challenge. Beyond this will come back with more.
Supports are at 2996-2992-2990-2988-2984-2980. 2992 appears to be strong in either direction and 2976 a strong base support.
Its a privilege to be participating in the markets in these historical times.
Kudos to India for taking the lead in all areas of growth and development, and no wonder we are the preferred destination for market players worldwide.
On a sobering albeit lighter note, there was this real-life bull being shown on one of the popular business channels at the time the Sensex had just nosed past 10000. The host kept saying how beautiful the creature looked, all decked-up with a cloak draped over its body which of course had the figure 10000 shimmering on it.
All creatures mother nature creates are beautiful, yet as far as visual aesthetics go, this poor bull, Im afraid, didnt quite possess the majestically inspiring carriage nor bearing nor the vigour of a bull you would associate with the momentous occasion being celebrated.
Obviously it was hustled together at the last moment, as the business channel and all the experts didnt quite expect where things were heading when yesterday began.
I do so much hope for all our sakes that this bull will eventually fatten and put on some bulk going ahead, and will shine forth from strength to strength.
Nothing more to say beyond this for now, as all that has to said has been said by financial experts by now.
Just one word comes to mind: Caution. Extreme caution.
To the up, its important to stay above 3008-3013-3018-3023 if the momentum is to be maintained. 3028 may pose a strong challenge. Beyond this will come back with more.
Supports are at 2996-2992-2990-2988-2984-2980. 2992 appears to be strong in either direction and 2976 a strong base support.
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