Markets Rally Hard and What Now ?
Update for 3rd March 2011
Markets Rally Hard and What Now ?
- Markets rallied hard on the second day of the budget. It seems that the reason for the rally was not the actual budget proposals but those many things which were not in the budget. The rallies in the Asian and western markets following the then correction of oil prices after the spike also helped.
NIFTY INTRADAY LEVELS AND TRENDS FOR TODAY 1 MARCH 2011
Nifty trend was volatile on budget day and made an intraday high of 5477 and finally lost much of the gain and closed at 5333 with slight gain .
Stock Tips For Monday- http://nifty-tips-calls.blogspot.com
Buy Tata Motors above 1255 TGT- 1270-1280 SL-1220
Buy Jindal Steel Above 696.30 TG- 604-610 SL-688
or Sell Below 690 TG-684 SL-698
INVESTORS WHO FOLLOW US WILL LAUGH ALL THE WAY TO BANKS: WWW.ASHOKSHARMA.CO.CC
JUST recall what our research team has been saying on Friday amidst market panic. Watch yourself today the same analyst who are giving scary targets till yesterday, will now give shamelessly lofty targets for nifty with an artificial smile on this face to cover their shame on blue channels.
IN VOLATILE & UNPREDICTABLE MARKET DO RISK MANAGEMENT WITH OPTION TRADING (LIMITED RISK UNLIMITED PROFIT) : WWW.ASHOKSHARMA.CO.CC
Market is euphoric up one day when all investing community gave targets like 6200, 6500 and panic down the next day, again the same people gave target like 5800, 5500 and so on.
A New Week and a New High Too … ?
Update on The Ultimate Momentum Signal – 20th Sept. 2010
Nifty futures made a phenomenal rally last week on the back of the relentless buying by FIIs. The market close was near the highs too. Now the question is whether the market will be able to sustain the last week’s run rate in this week too. Even though the Ultimate Momentum Signal system do not involve any forecasting or prediction of targets and it just keeps the positions as such until exited by the application of system rules, let’s revisit the post dated 16th September in which the immediate target was arrived at. According to the good old simple gap theory of the technical analysis, the target remains at the 4950 to 4960 area. And the market may reach the said target in the early part of the new week.
Finally, Bulls Take a Breather … !!!
Update on The Ultimate Momentum Signal – 17th Sept. 2010
Nifty futures opened at 5842, slightly lower than the previous day’s last traded price, on Thursday. As is common in strong bull markets, market immediately tried to test the previous day’s high. It reached the previous day’s high of 5875 and then started the sideways to negative trading before the monetary policy announcement by the RBI.
The RBI announced 25 and 50 basis point ( 100 basis points = 1 % ) hikes in the repo and reverse repo rates. ( Repo is the process through which RBI lends to the banks against collateral of government securities in the very short term and Reverse repo is the process through which banks can keep excess liquidity with the RBI in the very short term. )
Bull juggernaut yet to take a breather … !!!
Update on The Ultimate Momentum Signal – 16th Sept. 2010
The bull juggernaut, the possibility of which was envisaged by this blog as a mad scramble to get in to stocks if Nifty breaks above the eleven month old trading channel or another bout of irrational exuberance ( please see the posts dated 23rd Aug. and 9th Sept. 2010 ), continued on Wednesday too. The Nifty futures opened near Tuesday’s last traded price and immediately tried to test the previous day’s highs. It reached the high of 5875 before noon and traded in a narrow range to close at 5861.50 for the day. The Nifty futures have recorded gains in seven consecutive days. This raises the chances of a deceleration in the gains or a consolidation for one or two days. However, the markets may still continue to gain after the consolidation because of the very strong momentum seen in the charts.
Nifty Futures – Daily Chart
Now let’s try to calculate an immediate target to the current rally.
Time for a breather after the scorching rally .. ?
Update on The Ultimate Momentum Signal – 15th Sept. 2010
The markets had a stupendous rally in the last ten trading days. In fact the trading range of the last ten days has a span of almost 500 points. Now, the question is whether the time to take a breather has arrived ?
A Continuation of the Bull Fury or Consolidation … ?
Update for 13th September, 2010
Can the 5625 Resistance Withstand Another Bull Assault … ?
Can the 5625 Resistance Withstand Another Bull Assault … ?
On the back of negative cues from the international markets, the Nifty futures opened slightly below the previous day’s last traded price on Wednesday. After hovering near the open for a short time, the futures started the recovery. The recovery went on till around 1.00 PM when the Nifty index reached the exact high of 5625.50 it recorded the previous day. The Nifty futures, meanwhile, shrugged off it’s previous discount to break above it’s previous day’s high and reached 5624. For the second time as many trading days, the market sold off from the 5625 mark to reach the lower end of the last two trading day’s range. Another recovery ensued and finally the futures closed at 5597 for the day. Now the question is, can the resistance at the 5625 level withstand another assault by the bulls ?
Market & Nifty Futures Outlook 8th Sept 2010
Another New Yearly High, But Stiff Resistance Above 5600 … ?
After the runaway rally on Monday, the Nifty futures was expected to spend sometime for consolidation. As expected, the futures opened just above the previous day’s last traded price. It hovered just below the highs of the previous day in a two way trade mode till almost 2.00 PM in the afternoon. Then a recovery from the lower region of the day’s trading range seemed to have turned in to a strong rally resulting in the futures and the underlying index trading firmly above the previous day’s highs. To Read the Full Post Please Click Here
Market & Nifty Futures Outlook – 7th Sept, 2010
Nifty At A New 31 Month High … !!!
Here is a quote from the last post :
