Home > Market View > Markets trying to settle

Markets trying to settle

Friday, August 24, 2007 Leave a comment Go to comments

NIFTY is trying settle down between a 4100 to 4250 range. Although things have not stabilized as of now but some buying is emerging in the 4100 zone. Individual stocks are still too volatile and are not finding any direction. Upward movement is finding lots of selling pressures. If you are a long term buyer, your buying opportunities might come soon. For short term directional traders, life is still difficult.

Stocks like Reliance have a good base in the 1670-1750 range. So it might look attractive to long term buyers. RPL is holding its 105 support levels.Kotak Mahindra Bank is trying to stay above its support levels of 600-620.

Still early days to draw a conclusion.

Categories: Market View
  1. sagecapital
    Friday, August 24, 2007 at 6:54 pm

    It is very important for markets to consolidate between 4000-4350 levels before it moves up. Though today’s move has been encouraging, we need to watch intraday volatility very closely.Till it comes down to sub 2% range, it might be difficult to say that significant downside risks have vanished.

  2. Anupam
    Friday, August 24, 2007 at 6:37 pm

    Dear Sage, with the political woes somewhat deferred, are we over with this round of correction?

  3. sagecapital
  4. jk
    Friday, August 24, 2007 at 2:31 pm

    Where can we learn f &o basics and examples?

  5. sagecapital
    Friday, August 24, 2007 at 1:51 pm

    “Gap filling” works quite a few number of times.In my observation, gap ups sometimes don’t get filled.
    All the strategies work “some of the times. Like y’day I bought Nifty at close to play a dead cat bounce and it worked for me today morning. At the same time you might have shorted the NIFTY on open and it would have worked for you as well if you covered in time! As long you know your risk and reward, you can execute this strategy with success.

  6. Sai Rohit
    Friday, August 24, 2007 at 1:41 pm

    I have gone through your site now a days.It has a lot information/suggestions to the investor .Great site and keep it up.I have a small suggestion .Now a days there is gap up and gap down openings in the market.I am planning to buy nifty futures in gap down opening and sell nifty futures in gap up opening and wind up after some profit.How can this strategy work for me.Suggestion please.

    Sai rohit

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