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Bulls euphoria : when does the party end ?

Discuss Bulls euphoria : when does the party end ? at the General Trading & Investing Chat within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Originally Posted by kkseal Good news! ONGC strikes gas in KG & Mahanadi basin. When ...


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  #61  
Old 18th December 2006, 09:42 AM
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Default Re: Bulls euphoria : when does the party end ?

Quote:
Originally Posted by kkseal View Post
Good news! ONGC strikes gas in KG & Mahanadi basin.

When ONGC - the elephant - moves up it pulls the indices up along with itself (particularly the Nifty where it has the highest weightage).

We are only 12 points away from the trend decider level of 3900 on the Nifty. Will the bulls give up after having come so close and now with the elephant on their side? Would be surprised if they do.

Makes me more hopeful about today.

KALYAN.
Depends on what yr perspective is ... yes the news is good for a 1 day to 1 week scenariao ... but for a medium/long term perspective (which is the focus of this thread) , how is that going to affect corporate India's performance ?

I am confused... are you a daytrader, or an investor ?

AGILENT
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  #62  
Old 18th December 2006, 07:11 PM
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Default Re: Bulls euphoria : when does the party end ?

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Originally Posted by Agilent View Post
Depends on what yr perspective is ... yes the news is good for a 1 day to 1 week scenariao ... but for a medium/long term perspective (which is the focus of this thread) , how is that going to affect corporate India's performance ?

I am confused... are you a daytrader, or an investor ?

AGILENT
As a trend trader (i prefer Swing trader though!) who is not into shorting (yet) my first priority was to get back into that uptrend channel. This bit of news i thought would help and it did.

I also have a part of my portfolio into investments (medium/long term). So you could say i'm a bit of both.

And i also believe that it is because investors buy that traders ever get to trade (at least on the long side).

A pulback to the 3900 levels is likely in the next two days (possibly from Wednesday). Hope it's not broken again.

Regards,
Kalyan.
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