Higher IIP nos failed to cheer the Mkts & Sharp Sell off was witnessed on Friday on Account of fear of another rate Hike by RBI in its efforts to curb rising Inflation.
Anna Hazare's protest from 16th Aug v/scorruption w.r.t Jan Lokpal Bill would be very crucial & could lead to political crisis endangering Govt's stability.
Although Nifty has pulled back from Lows of 4960 levels to 5180 & closed around 5080 levels, Dont try to bottom fish as we feel that its just a technical rebound & before any fresh upmove markets could once again retest its Weekly Trend Line Support area of 4916-4935 again.
Also, Real Panic & price capitulation would set in once we close below 4915 & it could then cause the index to drift to lower levels of 4789/4661.
Further Pullback upto 5329/5480 would be witnessed only if critical resistance area of 5221-5238 is crossed but use the upmove to reduce longs on every rise till 5480.
If fails to cross above 5238, will be in a trading range 4915-5238.
Regards,
Team Market View Investments.
Mo : 9987750901.
Anna Hazare's protest from 16th Aug v/scorruption w.r.t Jan Lokpal Bill would be very crucial & could lead to political crisis endangering Govt's stability.
Although Nifty has pulled back from Lows of 4960 levels to 5180 & closed around 5080 levels, Dont try to bottom fish as we feel that its just a technical rebound & before any fresh upmove markets could once again retest its Weekly Trend Line Support area of 4916-4935 again.
Also, Real Panic & price capitulation would set in once we close below 4915 & it could then cause the index to drift to lower levels of 4789/4661.
Further Pullback upto 5329/5480 would be witnessed only if critical resistance area of 5221-5238 is crossed but use the upmove to reduce longs on every rise till 5480.
If fails to cross above 5238, will be in a trading range 4915-5238.
Regards,
Team Market View Investments.
Mo : 9987750901.
Yahoo Online Support : Marketview@ymail.com
Yahoo Groups : http://in.groups.yahoo.com/group/mktviews
Disclaimer :
As equity traders/Advisors We, our relatives and friends may have position in the stocks suggested by us. We are individuals and dont belong to any brokerage house or company. All Recommendations are based on technical and/or fundamental analysis and/or Personal observations.
Trading in stock markets involves risk . We give Recommendations, opinions or suggestions with the understanding that readers acting on this information take in to account all risks involved with market. Acting on the basis of views expressed here is the sole responsibility of the reader. No responsibility will be assumed by the authors for the consequences what so ever, resulting out of acting on these recommendations. The information herein, together with all estimates and forecasts, can change with/without notice depending on the Market Conditions
As equity traders/Advisors We, our relatives and friends may have position in the stocks suggested by us. We are individuals and dont belong to any brokerage house or company. All Recommendations are based on technical and/or fundamental analysis and/or Personal observations.
Trading in stock markets involves risk . We give Recommendations, opinions or suggestions with the understanding that readers acting on this information take in to account all risks involved with market. Acting on the basis of views expressed here is the sole responsibility of the reader. No responsibility will be assumed by the authors for the consequences what so ever, resulting out of acting on these recommendations. The information herein, together with all estimates and forecasts, can change with/without notice depending on the Market Conditions
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