The
markets are built with good long open positions as the run-up in the markets
are quite strong. The Nifty is strongly holding above 5650 and trading near to
the highs at 5800. The Friday freak trade has given good opportunity to bears
to crush the markets down but that has not materialized.
The
bear can have edge only below 5650 can bulls also may allow this run upto
5480-5440 level. The results of this Sep-12 quarter will decide the future course
of Nifty, as well the elections in USA
The
markets are right now in strong BULL grip because many offerings are being
tabled by the center There is life only when govt. continues to open for
reforms and market friendly policies. The political uncertainty and more scams
will dampen the run that was initiated with the opening of mores reforms. As the
campaign for Gujarat elections coming and the
new headlines are filled with allegations and counter allegations opening for
more SCAMs could become a road block for NIFTY to cross 5935.
The
stocks are holding above the support levels. As the weakest of yesterday stock
like BHEL is now trading above 260 level. As I mentioned in my previous
postings that the markets will be in FULL BULL grip once this stock trades
above 232 level. Now the stock has a potential to go upto 293 level. In case
BHEL trades below 241-239 level, unwind all the long positions and 50% of the
investment holdings.
The
Nifty took the recent upward journey from 4850 levels from June-12 where as
Jan-12 low is at 4590 level. The first leg took a steep rise from 4600 level 5620
level. It again fell from that level to 4850 level, a low but again took the up
move to this 5815 level. The journey may not take in jumps but will creep up.
The
banks are for RBI rate cut at the review on 30th Sep-12. The ICICI
bank will touch Rs 1015-18, may resume up-move.
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