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Tuesday, August 9, 2011

Banknifty view for 10.8.2011


The Market sarts showing it wild colours in the past four days.The today market opend in deep gap down and the opening there were huge panic selling seen..But in no time the Banknifty and Nifty jumped up.

Today the banknifty opened in 10050 punch and show a down at 9939.90 and from 10050 onwards it shoot up like bullet.I saw a real Roller coaster move today from low 9939 to 10433.Who ever was not trained enough in trading would have thrown out when the market was gone up(without sl) and that too i noticed from 10250 onwards it shoot up non stop to 433 and certainly jumped down to 10050 levels.That's why i say the market exactly behaved like a roller coaster with so many wild jerks.

Yesterday, in my preview i wrote any prediction now may go futile.That's how the market exactly behaved today.New traders must stay away from this market. As it is purely the technical players/operators are very much aggressive.For no reasons it pulled up and no reasons it fell down steeply.Even the technical 's tools can not give you a perfect indication.

Last two days, the market opened in gap down and pulled up(may be by the DII's Buying) and gave up all the gain.One thing we need to remember, no one can hold the falling knife when the margin pressure/shortfall- faced by FII's!! In any price they sell.So be cautious.All i can say now is the market is not settled in bottom..as the Nifty and banknifty broken the status quo bench mark 5000&10000 respectively.

Yet another gap down is on card.The bear market is the indication of a continuous gap down and bounce to fill the gap.The nifty& Bn gap was filled today.It means the peak one can look out chance to exit long or add fresh sell.

1 comment:

  1. Asian stocks steadied on Wednesday and the dollar held firm as investors awaited the Federal Reserve's policy decision later in the day for more clues on its tightening plans.capitalstars

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