The Market opened in BULL's Zone and attacked the bulls heavily and the bear won the battle.The market moved last five days like a snail and yesterday shown some high jump and today opening it marked a high but couldn't stay back.
The Nifty opened in 5651 and touched a days high 5658.90 and fell sharply down to days low of 5554 level.The banknifty opened in 11 392 and punched a days high at 403 and fell back to 11370 and try to sustain/claim up!! but failed in its attempt drastically,As it gave up about 250 points from day high to low.(Days low 11156 )
We have been mentioning not to remain in longs in higher level.The Bn we covered STBT in the opening near 370 as it opened near the 200DMA..but it technically fooled us!! Luckily we had our old positional shorts (sold in 11460 level) .That we covered in low near 11170+240 levels.Still holding balance shorts.The Nifty we sold positional in 5760(July 1st week) and today we thought of reversing but luckily escaped.
This fall is caused by the weakness of banks stocks...almost all the banks fell down.The nifty still in a range bound where as the Bn is not.It is in bear mode.The nifty now took support in 5555 level once so still there is a hope for its upmove...but below 510 level the nifty too join the bear stream..
what next?
Considering the crisis in Greece and other Europe union the global economy may face severe crisis on the coming days.Our market the FII's made this rally and now last few days the fii's buying is visibly reduced...it means if they start pouring selling it can cause a major correction.
Today the FII's sold index future,option and stock 1238 crores.DII's sold about 226 crores.The FII's bought in cash about 293 crores.
The Nifty opened in 5651 and touched a days high 5658.90 and fell sharply down to days low of 5554 level.The banknifty opened in 11 392 and punched a days high at 403 and fell back to 11370 and try to sustain/claim up!! but failed in its attempt drastically,As it gave up about 250 points from day high to low.(Days low 11156 )
We have been mentioning not to remain in longs in higher level.The Bn we covered STBT in the opening near 370 as it opened near the 200DMA..but it technically fooled us!! Luckily we had our old positional shorts (sold in 11460 level) .That we covered in low near 11170+240 levels.Still holding balance shorts.The Nifty we sold positional in 5760(July 1st week) and today we thought of reversing but luckily escaped.
This fall is caused by the weakness of banks stocks...almost all the banks fell down.The nifty still in a range bound where as the Bn is not.It is in bear mode.The nifty now took support in 5555 level once so still there is a hope for its upmove...but below 510 level the nifty too join the bear stream..
what next?
Considering the crisis in Greece and other Europe union the global economy may face severe crisis on the coming days.Our market the FII's made this rally and now last few days the fii's buying is visibly reduced...it means if they start pouring selling it can cause a major correction.
Today the FII's sold index future,option and stock 1238 crores.DII's sold about 226 crores.The FII's bought in cash about 293 crores.
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