The markets look pretty comfortable and it will be important to note that as far as the mindset of the people in positions are concerned, we are back to where we started two-three months back.
Three months back when we were hovering around 4,000-4,100 there was lot of skepticism in the market, there were lot of concerns and the same thing has comeback to us. We are with trimmed down versions; as far as the portfolios are concerned, there is again a concern. People are circumspect and at every high people are offloading the position and some fresh shorts are also created in the system because we are back from 4,000-4,500. Same thing, which we witnessed last time, was around 4000-4100 and currently at 4400.
we are, maybe in for another rally and may see these highs being broken in the near future.
“But the important thing is that we have to take into stride that there are no negative political rhetorics or maybe there is no sustained global correction. Even if there is one day of correction in the global markets, I think that would be also taken into stride. What we witnessed couple of days back - decoupling led by many sectors, I feel that we are quite comfortably placed at the current juncture and it is a fair chance that we might move ahead and even break news highs. I would not be surprised.”
The trend is certainly up. But right now the current rally seems to be highly over-retraced. It is up by some 1500 points on Sensex from its recent bottom of 13,800 levels. On Nifty, it is a bottom of something 4,040. So currently a lot of frontline stocks and Index heavyweights are also highly retraced, they are far away from their recent bottoms and that is why we may expect some profit booking or some liquidation of pending long positions around 4,500 levels.
Expectations : Market will again make another bull run on Monday try to touch 4500.Be careful of profit booking at 4500 level.
See latest update before 10 AM tomorrow.....
Three months back when we were hovering around 4,000-4,100 there was lot of skepticism in the market, there were lot of concerns and the same thing has comeback to us. We are with trimmed down versions; as far as the portfolios are concerned, there is again a concern. People are circumspect and at every high people are offloading the position and some fresh shorts are also created in the system because we are back from 4,000-4,500. Same thing, which we witnessed last time, was around 4000-4100 and currently at 4400.
we are, maybe in for another rally and may see these highs being broken in the near future.
“But the important thing is that we have to take into stride that there are no negative political rhetorics or maybe there is no sustained global correction. Even if there is one day of correction in the global markets, I think that would be also taken into stride. What we witnessed couple of days back - decoupling led by many sectors, I feel that we are quite comfortably placed at the current juncture and it is a fair chance that we might move ahead and even break news highs. I would not be surprised.”
The trend is certainly up. But right now the current rally seems to be highly over-retraced. It is up by some 1500 points on Sensex from its recent bottom of 13,800 levels. On Nifty, it is a bottom of something 4,040. So currently a lot of frontline stocks and Index heavyweights are also highly retraced, they are far away from their recent bottoms and that is why we may expect some profit booking or some liquidation of pending long positions around 4,500 levels.
Expectations : Market will again make another bull run on Monday try to touch 4500.Be careful of profit booking at 4500 level.
See latest update before 10 AM tomorrow.....
No comments:
Post a Comment