Home > Market View, NIFTY Strategy > Markets displays strength – SBI hits a new high

Markets displays strength – SBI hits a new high

Monday, November 5, 2007 Leave a comment Go to comments

The markets displayed a great strength on Friday and held the 5700 levels I had mentioned. All this, despite the negative global cues! this market has a mind of its own and does what it wants to do. If you remember we fell on Thursday despite stronger global cues.

Another interesting point to note is the FIIs were buyers when markets fell on Thursday and they were net sellers(provisional data) when markets rose on Friday. Usually it always happens the reverse way!Does this signal the arrival of the domestic investor? (Might be too early to draw a conclusion- one or two observations are not enough)

Things look positive as of now and we seem to be on track to have a nice Diwali. Also do you ever wonder as to why the TV channels have suddenly stopped talking about FII money slowdown? Everyone anticipated that after Oct 25 and predicted a sideways to downward move. As a result many people might have missed this upmove.

Banking stocks like SBI seems to be heading higher. This remains my top pick in the PSU banking space. For short term punts one can also look at Bank Of Rajasthan and Bank of India.

The Reliance pack looks very interesting and I have placed quite a few bets on them in the last two weeks. So far they have netted some handsome gains.

As long you manage your risks, you don’t have to worry in this market. the moment you go on extra dose of leverage or buy based on the “hot news”, you might land up in big trouble. This market shall conspire against you and throw you out of this game!

My next targets on NIFTY are pretty huge if the trades work out. I am being pleasantly surprised each day. At the same time I am aware that things can change any time. This market is evolving very fast and you have to adjust to it pretty fast.

So stay put and remain vigilant. Always remember-it is your hard earned money which is on the line.

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  1. sagecapital
    Monday, November 5, 2007 at 2:01 pm

    Anupam- Why take subtle hints? Take direct support by being a client 🙂
    Its already takes so much your head to decipher markets and if you use extra head to decipher my posts, I dunno where it will lead you to!

  2. Monday, November 5, 2007 at 1:16 pm

    Hats off to Sage for the way he predicts the nifty movement. Also thanks for the subtle tips.

  3. sagecapital
    Monday, November 5, 2007 at 11:46 am

    The stock has lost momentum, so not looking very bullish.

  4. Karthik
    Monday, November 5, 2007 at 11:27 am

    everonn prices are soaring down . please input whats ur call on this.

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