We Expected a 'flat opening today ' and it did so.. but, our prediction went wrong as we expected a sideways trend.Markets beats every one. The banknifty and nifty shown a 'Up Trend' throught the day no sign of falling down /swings it move up and up consistently.The banknifty opened in 12000 and touched a day high of 12395.During the opening it came down to 11990 and that was todays low.The last trade was in 12358 a strong closing that stir the mind of bears...The last few days right from 11400 level we were cautioning the banknifty will touch 12200 in few sessions but it exceeds our expectation almost touched 12400 level nearly 1000 points from 11400 level.Many traders were in short expecting a deeper correction in market and negates advise to - many go short.We have been cautioning not to do so...hoping that saved many people money.
The nifty crossed the 5940 level now going beyond 6020 will attract fresh buying..So do not remain in shorts in nifty if , sustain above 5940 levels tomorrow. The banknifty now will find hurdle in 12450 level a cross over this lead to 12700 level if not move fast above this 12450 level it may fall down to 12240 level. Now not the time to go fresh long restrict all your trade in intraday that will be better.
Many stocks today 'upper freezed' due to the possitive note of GDP growth and the food inflation.That too realty stocks zoomed like core projects(touched 270 level),vijayashanti and many such scrips...inspite of the recent housing loan scams!!!.The SBi and Allahabad banks and others seems pull back.The ioc shown good recovery due to the fpo..Will this upmove will continue further!! if so, how long!All these anlysis is nothing but waste of time the less you apply your logic mind the more you will understand about the real market and its pulse to sail smooth.
ReplyDeleteIndian markets may open positive on encouraging cues from global peers.capitalstars