Nifty
is recovering form the 4580 level likely to cross 4850 and even 5100 if it can
maintain above support level of 4780 and Reliance stay above 739-41 level.
Since November 16th to day the average band of Nifty is between
4850-4740. So we can expect that the narrow band is on the negative side but
for temporary rally is possible as the ray of hope in India
The
govt may take all necessary steps to revive the economy and the pre-budget
rally and global support will help the Nifty to float above 4850 level for some
time.
I
clearly mentioned except Nikkei every other market is in bull grip. The DAX is
now the indicator. In my October 9th post and other post kept on
mentioning the relative relation. So long DAX trades above 5770 level the
markets are in bull grip. The S&P above 1150 is in Bull grip. Our markets
are correcting but only on local matters will rebound with vengeance but one
has to wait for some time….
The well wishers and close friends are asking the timing the market and the exact bottom price of the index so that there won’t be any further down side. This gives a psychological edge that the capital invested is safe and may reap good results instantaneously. The idea is relatively good for traders but for the investors it is not a good approach as far as I am concerned. The stock investment is not a one time job but has to be invested over a period of time with small amounts and then do like a farmer, as the cultivation requires fertilizers and weeding out and so on with a careful monitoring continuously. The people close to me asked why TV-18 a buy, I said wait for the news, might have noticed the TV-18 deal.
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