In liquidity driven market no technical, fundamental explanation works.
Today NIFTY is well set for gap up opening by at least another 40/50 points. Market is absorbing all negatives news. Bearish hanging man pattern formed on Friday was invalidated today. No positive indication from US, IIP data was much less than expectations, inflation data is much higher, Europe, US markets are struggling to perform, nothing great in Reliance results but NIFTY is forming higher highs everyday.
As of now Singapore NIFTY is up by 75 points and our NIFTY must take cue and open at least in the range of 6150/6160 tomorrow. Every lows are being bought. No one is in the mood of profit booking. FIIs are buying in cash segment.
Let us not do any new trades. Buying anything now will be costly and selling anything in this momentum driven market will be silly.
So take trading holidays till this weekend and try to hold all existing positions.
Disclaimer: This blog does not take any responsibility of your profit/loss
Today NIFTY is well set for gap up opening by at least another 40/50 points. Market is absorbing all negatives news. Bearish hanging man pattern formed on Friday was invalidated today. No positive indication from US, IIP data was much less than expectations, inflation data is much higher, Europe, US markets are struggling to perform, nothing great in Reliance results but NIFTY is forming higher highs everyday.
As of now Singapore NIFTY is up by 75 points and our NIFTY must take cue and open at least in the range of 6150/6160 tomorrow. Every lows are being bought. No one is in the mood of profit booking. FIIs are buying in cash segment.
Let us not do any new trades. Buying anything now will be costly and selling anything in this momentum driven market will be silly.
So take trading holidays till this weekend and try to hold all existing positions.
Disclaimer: This blog does not take any responsibility of your profit/loss
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