Home > Market View, NIFTY Strategy > NIFTY -What lies next?

NIFTY -What lies next?

Sunday, August 2, 2009 Leave a comment Go to comments

So far so good. About two weeks back I had written that the chances of an uptrend remained bright. The mood has become positive and everybody is looking for higher levels on Sensex and NIFTY. I am again witnessing a talk of higher targets on sensex ( One market pundit gave a figure of 24000 on the sensex!)

Although the medium term trend remains up, my sense is that the markets might either pause or we have a sharp correction once 4700 is crossed. That will primarily happen to shake out the weak hands. So short terms traders are advised to exercise extreme caution and not increase positions.

My medium term target for the uptrend remains around 4800+. If global cues remain a bit supportive, it might even touch 5000. I’d be happy to sell atleast 30-40% of my positions into any euphoria that accompanies this momentum. The downside stop can be around 4380-4400 mark.

As stated earlier, I am bullish on FMCG, IT,Pharma and Power stocks. Even oil and gas might be a sector to watch if Crude oil tops $70 ( There is high probability that crude actually goes to $75-80)

Watch yourself against excessive volatility as markets will try their best to outsmart the intraday traders. Coming weeks will also see NHPC IPO and lisiting of Adani Power IPO. I shall try to write on them.

Advertisements
Categories: Market View, NIFTY Strategy Tags:
  1. Deepu
    Friday, August 7, 2009 at 4:05 pm

    hold it

  2. Gurdeep
    Friday, August 7, 2009 at 1:45 am

    Seems perfect so far, but I bought a huge number of shares day before that 350 pts being down 😦

  3. Guru
    Tuesday, August 4, 2009 at 12:59 pm

    Hello Sage. Very Good article. Can you throw some light on the strategy one should follow now. Is it a good time to reenter the stock market?

  4. rajiv
    Sunday, August 2, 2009 at 9:45 pm

    dear
    what abt unitech and dlf i am holding them.

  1. Saturday, August 8, 2009 at 11:42 am

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: