What a Bull run is going on in indian Market today?
I think at these levels it will be very difficult for the bulls to keep the rally going on because whatever they have achieved in the last couple of days, in fact in the last few weeks, has been stupendous and the fundamentals surely don’t support this rally. It has moved up because of liquidity because of short covering; lots of people were short in the last two to three weeks. So that short covering also helped this rally. But looking at the fundamentals, the market is being so expensive at this point of time, I don’t see any reason that the bulls can carry on with this rally much longer than this.
Now Where will be next Move any guess?
We are ending trade and as I say all wells that ends well particularly true for today because at one point it was not looking very good in the middle of the day things but it is ending very well. I think it’s a very bullish close the way the market was doing in the middle of the day to loose all those 600 points in the matter of 45 minutes and then to come back and close virtually and close at the highs of the days just a few points off has to be very bullish. Nifty is up 3% as well.
Volatile day but closing is very firm, though the is breadth is not great and the volumes are huge 1,34,000 crore of trade today. So in many ways you can interpret today’s trade but the closing is one as the bell rings it’s 560-points up on the Sensex as 17,890 barely a 110-points away that magical 18,000 mark. Nifty up at 158 points at 5,226 this is being a big closing despite of a lot of intra-day jitters.
Nifty Prediciton : Market is still bull at this level but you may see some selling pressure .Market Next target is 5260 and 5300.
Note : Market may see some correction in next few days.So be careful.
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