The 'all time high close' day

The investors are behaving like day traders, so is our markets behaviour. The markets are facing selling pressure even for one percent rise. The long term fundamentals could be strong but technically the Nifty finding difficulty to advance further with strength. As posted, though the Nifty could close above 4293 and created a new high but failed to move up on broad based sectoral gains on several fronts.

Most of the fund managers tired to extend their support to heavy weights as many companies published their results and the shopping spree of Indian industry seems to be over except for selling the promoters stake to make good money while the Sensex shines. The banking sector is the dire need of money to meet the BASEL-II statutory norms. So pushing the stocks could fetch few more rupees with out much pain.

The May series could see much more choppy days ahead of the expiry. The market is ripe for diluting the holdings by 50% and re-enter when the Nifty touches 3920-3880 regions. The wait and watch is the best principle for the small investor whose averaging power is much less. No leverage be encouraged in the market at this point in time. No long term longs, the investors should enjoy the up move like a trader.