Its difficult, in all fairness, to call the markets at this point.
More money has newly come in. Where does this want to go.
A few index heavies have been underperforming. When will they kick in.
Some other index heavies have been rocking. When will they start correcting.
Sensex at 10000 has come and gone. What else is left in the immediate term.
So there is a mishmash of all these issues and more.
On the other hand, our markets have been running against the international trend which has been showing weakness lately.
Add to this the fact that it is common knowledge that the valuations here are way overboard.
The a/d readings have declined again and at the end of yesterday they stood evenly poised.
In a volatile session yesterday, its mainly short covering that sent the markets spurting in the last half hour. This amounts to false readings and not an organic kind of spurt, and the savvy players would not and should not be lured into gay abandon.
Between today, Feb 8 and Feb 10, we may be looking at some high volatile activity in one or the other direction.
3065 could see an important event when and if the action moves there. 3139 is another level coming up, but for a future time perhaps as its too far high to come into play in the near term.
On the downside, 2997 and 2938 are also coming up.
Be very cautious and very specific, to leave matters at a sensible note.
To the up the levels are 3024-3028-3032-3034-3038-3040. 3036 is important to cross and hold to keep climbing.
To the down are 3018-3015-3013-3010-3007-3004-3001-2998-2994. Of these 3013-2998-2994 are stronger than others.
Will post more in either direction if needed.
More money has newly come in. Where does this want to go.
A few index heavies have been underperforming. When will they kick in.
Some other index heavies have been rocking. When will they start correcting.
Sensex at 10000 has come and gone. What else is left in the immediate term.
So there is a mishmash of all these issues and more.
On the other hand, our markets have been running against the international trend which has been showing weakness lately.
Add to this the fact that it is common knowledge that the valuations here are way overboard.
The a/d readings have declined again and at the end of yesterday they stood evenly poised.
In a volatile session yesterday, its mainly short covering that sent the markets spurting in the last half hour. This amounts to false readings and not an organic kind of spurt, and the savvy players would not and should not be lured into gay abandon.
Between today, Feb 8 and Feb 10, we may be looking at some high volatile activity in one or the other direction.
3065 could see an important event when and if the action moves there. 3139 is another level coming up, but for a future time perhaps as its too far high to come into play in the near term.
On the downside, 2997 and 2938 are also coming up.
Be very cautious and very specific, to leave matters at a sensible note.
To the up the levels are 3024-3028-3032-3034-3038-3040. 3036 is important to cross and hold to keep climbing.
To the down are 3018-3015-3013-3010-3007-3004-3001-2998-2994. Of these 3013-2998-2994 are stronger than others.
Will post more in either direction if needed.