Home > NIFTY Strategy > Bulls and Bears fight hard!

Bulls and Bears fight hard!

Thursday, August 23, 2007 Leave a comment Go to comments

Last two days have witnessed fierce fighting between the bull and the bears. If yesterday belonged to the bulls, the bears took back the game today. Faint hearted souls would have dropped dead witnessing this bloody fight!If you are watching this fight from outside, you can still try to enjoy it but if you are part of this fight then you might be badly injured.

The NIFTY indeed made a dash to 4250 today(as we were saying yesterday) and lots of people thought that the ‘correction is over”.NIFTY faces stiff resistance in 4250  zone. Smart guys took their profits around those levels but a lot of “gullible” traders were caught on the wrong foot when NIFTY closed at 4114!

Do not be in a hurry to “jump in”. If this market has to go up, it will give you ample time or jump in  when you see the whole market is selling in “panic”. Otherwise let this market find its feet and make up its mind!It might not be a prudent strategy to make “blind” moves.

If you want to catch the bottom, take 4000-4050 as your reference point. This market might try to retest those levels again. You can make some purchases in those regions considering your risk appetite. If 4000 gets broken, then 3600-3800 might come quickly!

In these market conditions,you might be rewarded more for your “patience” than your bravery.

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Categories: NIFTY Strategy
  1. sagecapital
    Friday, August 24, 2007 at 9:09 am

    I don’t have sufficient data to comment on Zylog. 410 seems some kind of support and then 350. Buy and sell decision depends on your investment perspective.

  2. jk
    Thursday, August 23, 2007 at 11:44 pm

    CAN U COMMENT ON ZYLOG SYSTEMS?
    I AM LONG ON THE STOCK BUT MARKET IS LOSING GROUND?
    SHOULD I SELL ..
    WHAT DOES THE TREND SUGGEST..

  3. sagecapital
    Thursday, August 23, 2007 at 10:17 pm

    I agree- Kerala is in a mess and so is WB after the Singur issue. It is very unlikely that they might do something. But lets accept the fact that markets don’t like “uncertainty”. Tell who will do “big ticket” buying if you have the anticipation that these guys can pull down the govt. anytime in next 6-9 months.

  4. Chetan
    Thursday, August 23, 2007 at 8:16 pm

    I wonder if the commies are out there shorting the market. For all their silly antics, they have nothing to gain by forcing a mid-term poll. Voters will kick them for it and they would probably get fewer seats than what they did the last time, which was a surprise even for them.

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