IIP data was negative: NIFTY went up!
NIFTY
NIFTY, if crosses 7920, could go to 7985 very quickly.
Don't do anything with negative bias in NIFTY, even if it shows 40-50 point correction during morning hours. Global cues are positive, oil prices going down, gold becoming cheaper, dollar is near 60 and all this small things could have big positive impact on NIFTY.
See chart, after first blue spot (first breakout), NIFTY gave another breakout day before yesterday.
Yesterday it did not do much and consolidated at higher range and must be making stage for another big up-move till 7990 today/tomorrow. Then 14 day RSI would go above 65-70 and one could see some profit booking.
Disclaimer: This blog does not take any responsibility of your profit/loss
No policy announcements in PM speech, SGX NIFTY was down after the speech but NIFTY went up!
Geopolitical concerns go up and NIFTY too goes up!
Geopolitical concerns go up and NIFTY too goes up!
All quarterly corporate result were known by now, nothing spectacular there but NIFTY did not stop upward momentum!
Dollar crossed 60 mark, but did not stop NIFTY up-move and when it went marginal down NIFTY went up sharply!
Lesser monsoon than average, NIFTY does not care!
Lesser monsoon than average, NIFTY does not care!
Now oil prices are going down and NIFTY might find another reason tomorrow to go up, although NIFTY did not correct when oil prices were near 105.
Optimism, hope and feeling of left out taking stocks and NIFTY to new high everyday.
I read, lot of money is flowing in Indian market from Russia. Anything is possible from here.
In short, NIFTY is consistently neglecting all negative cues and responding positively to even the slightest of positive announcements.
Bank NIFTY
If it crosses EOD close, then it could go anywhere.
Till then one can trade with negative bias, due to trend-line resistance.
If it crosses EOD close then, then just buy Bank Nifty or SBI. Recenly, stocks do consolidate at higher level and then show good flag pattern with 2-3% movement during the day. Today could be the day of SBI.
I read, lot of money is flowing in Indian market from Russia. Anything is possible from here.
In short, NIFTY is consistently neglecting all negative cues and responding positively to even the slightest of positive announcements.
Bank NIFTY
If it crosses EOD close, then it could go anywhere.
Till then one can trade with negative bias, due to trend-line resistance.
If it crosses EOD close then, then just buy Bank Nifty or SBI. Recenly, stocks do consolidate at higher level and then show good flag pattern with 2-3% movement during the day. Today could be the day of SBI.
NIFTY
NIFTY, if crosses 7920, could go to 7985 very quickly.
Don't do anything with negative bias in NIFTY, even if it shows 40-50 point correction during morning hours. Global cues are positive, oil prices going down, gold becoming cheaper, dollar is near 60 and all this small things could have big positive impact on NIFTY.
See chart, after first blue spot (first breakout), NIFTY gave another breakout day before yesterday.
Yesterday it did not do much and consolidated at higher range and must be making stage for another big up-move till 7990 today/tomorrow. Then 14 day RSI would go above 65-70 and one could see some profit booking.
Disclaimer: This blog does not take any responsibility of your profit/loss
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