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Up Trend Maturing!

Weekly Monthly Chart & Tech indicators suggest maturing of recent Uptrend. But as stated earlier having ample liquidity in market is supporting recent valuation and providing support at major resistance level of 4450 on Nifty. It look if this rally has to go further up it can max stretch upto 4800.

Market is already over 80% higher then its OCT’08 Low. Profit booking very much recommendable, if anyone is running long since last six month. For aggressive trader & speculator small quantity of shorts can be build up @ current level, and further on confirming reversal signal you can add more short position to your portfolio.

Slowing inching up or Maturing up trend?

Slowing inching up or Maturing up trend?

As stated earlier, this rally has strong backup of liquidity and positive sentiments, which is resulting into buying support at every dip & strong pull back thereafter. But sensex over 15500 is not sentiments game or liquidity game its changing its appearance into strong speculation, and speculation rally came take market anywhere.

So a simple advice for Bear is to trade with very strict SL, and book profit if they fall right on intraday basis. Medium & Short Term Trend is Up, So no worry for Bulls as of now; they are safe above 4450 -4550.

Rally can take Nifty to 4800

Euphoria 2 Building up?

Can only a statement from our honorable prime minister suffice country’s actual growth rate? We believe India has great potential and has a great value, but going by current market scenario, it seems that we already have achieved 9% Growth Rate, Zero fiscal Deficit and all issue has been solved. Is this the real current picture?

The way market moving up with high intensity it seem Euphoria 2 is clearly building up. How long it can go or how big it can grow its some thing hard to answer, still I believe 4800 is achievable my Bulls before Budget 09-10.

Imp Note: Irrationality finds its own Logic & Facts, and Create its own unjustifiable level.

Monday Down, Tuesday Up.

What’s the hell going on...? I know most of you would be having this question in your mind. But nothing is strange for us as already said earlier, Market is in searching mode, Its Still unsure whether to breakdown or to breakup. So nothing more to say today, Please Check Last Saturday Post that’s held true for today aswell.

For enterprising Trader only: Short CNX IT with SL 3590 – 3610, below 3550 it looks weak.

Today is First Day below 4450…

Today’s closing is first closing below 4450, if it stay below 4450 for another two day then, 4000 is not far for Bear Trader. There can be major / minor resistance @ 4375, 4250-4200. Hold on your short with SL of 4500,4550. Long only after sustain above 4375.

Most of Tech Indicator supports break down of Market, but looking to liquidity it will be advisable to follow strict SL on both sides. Short Nifty with SL of 4500.

Up Trend Maturing…

It seems up trend is maturing, as Weekly Monthly Tech Indicator moving in overbought zone. But Liquidity and Left out feeling everywhere plays great roll in sustaining price. So till time liquidity is there and people don’t find any other better & attractive option for investment market will sustain and move higher. Looking forward to second week of June, we believe it will be range bound as same was said earlier (rotating near 4500 Nifty). On Higher side nifty can touch 4800 mark which is 61% Retrenchment level for High to Recent Low. Long trader should exit if Nifty close below 4450 with volume on any given day and should not enter fresh long if it stay below there for two days. Enterprising Short Seller (Bear Player) can short @ 4650, 4700 and 4800 with SL, Don’t build major short unless volume, A/D and News favors you.

Value Investor can look forward to buy some undervalued Mid & Small Cap Stock, with holding period over 3 years, One such stock comes to my mind is Kothari Products Ltd, it can double from current price in 6 to 9 months time.

Searching Way out…

4450 SL for Bulls and 4550 SL for Bears.

A scrap from Today’s Chat with Ramesh Damani.
sathya_1958: We are seeing an unprecedented rally in a bear market. Have you ever seen such rallies historically
Ramesh Damani: in 1994 index went from 2800-4500 (the 92 top)..but it could not sustain

Market Moving Higher, Higher & Higher…!!!

It seems Market will Trade around 4500 for a while. So to be safe on SL level I would recommend holding long with SL of 4450, and as said in last week, Short Seller has all ready hit its Upside SL so move out of short. Fresh short only below 4500, with SL of 4550. It seem this rally can extend to 4800 if we consider creation of recent round bottom after election result, i.e. in last fortnight. So Hold on your Long Till 4450 is beach.

Cautious Note:- Currently Daily Technical Indicators Like RSI WRsqr are on overbought zone so tomorrow we may see short correction, Build short position over night, only if Nifty breach 4450 with strong volume.