Hi!
The last week, everyone would say that the Indian markets shot up as a result of global phenomena, and followed the US & far east markets. Buxl Shxt.
That must be clear indications from the chart, but unfortunately, I seem to have missed it. That is why, I am NOT an analyst. But even a good mathematician cannot earn 100% marks in any and every exam. There are some problems the solutions of which, is difficult to find.
Many analysts had declared in the last week that the bear phase is over. Some declared that the momentum of the market has changed direction and is now bullish. Some even predicted that the markets may shortly cross 4700 with volumes and stay at higher levels.
May be. But that was BEFORE the RIL results were out. Now everyone is expecting RIL to fall by 150-200 Rupees, and one can understand it’s impact on Nifty and the overall market.
However, with the sudden rise in Nifty last month, I get a feeling that something has been missed, and inspite of the markets going down on Monday due to RIL’s fall, markets may have something up the sleeve for the next month.
If one wants to play safe, one could wait till Nifty is above 4700 with volumes. If one wants to take risk, then the drop on Monday [and possibly of Tuesday too for the forenoon session] could be used to take positions for Aug with appropriate stop losses.
My opinion, and I could be wrong
Cheers!
SS
The last week, everyone would say that the Indian markets shot up as a result of global phenomena, and followed the US & far east markets. Buxl Shxt.
That must be clear indications from the chart, but unfortunately, I seem to have missed it. That is why, I am NOT an analyst. But even a good mathematician cannot earn 100% marks in any and every exam. There are some problems the solutions of which, is difficult to find.
Many analysts had declared in the last week that the bear phase is over. Some declared that the momentum of the market has changed direction and is now bullish. Some even predicted that the markets may shortly cross 4700 with volumes and stay at higher levels.
May be. But that was BEFORE the RIL results were out. Now everyone is expecting RIL to fall by 150-200 Rupees, and one can understand it’s impact on Nifty and the overall market.
However, with the sudden rise in Nifty last month, I get a feeling that something has been missed, and inspite of the markets going down on Monday due to RIL’s fall, markets may have something up the sleeve for the next month.
If one wants to play safe, one could wait till Nifty is above 4700 with volumes. If one wants to take risk, then the drop on Monday [and possibly of Tuesday too for the forenoon session] could be used to take positions for Aug with appropriate stop losses.
My opinion, and I could be wrong
Cheers!
SS