All indices have neglected referendum so far. SGX NIFTY is no exception and presently (Monday March 17 around 7 pm) trading in marginal green.
If NIFTY crosses 6520-6530 tomorrow (and it could be mere formality now) then it will be hoping against hope that NIFTY will close below 6400 by end of this month's expiration.
NAMO, referendum, inflation numbers and expectation of rate cut will be additional factors tomorrow to add spice to already hyped sentiments. So far bears don't stand chance.
Nevertheless, FIIs are selling in future continuously for past four days and must be hedging their bets by buying in cash segment, SGX NIFTY had shown up good run up today morning but bit subdued now, on Friday though NIFTY shown spurt in last one hour, volume was low, in fact the lowest in March. All these factors indicate that NIFTY might struggle in further northward moment if it fails to pass convincingly 6530 on EOD basis. This could be some indications that steam is lost.
There are some possibilities of new trades but since our accounts are in deep red so far this month we will not enter in any new trade and add to the risk.
Disclaimer: This blog does not take any responsibility of your profit/loss.
If NIFTY crosses 6520-6530 tomorrow (and it could be mere formality now) then it will be hoping against hope that NIFTY will close below 6400 by end of this month's expiration.
NAMO, referendum, inflation numbers and expectation of rate cut will be additional factors tomorrow to add spice to already hyped sentiments. So far bears don't stand chance.
Nevertheless, FIIs are selling in future continuously for past four days and must be hedging their bets by buying in cash segment, SGX NIFTY had shown up good run up today morning but bit subdued now, on Friday though NIFTY shown spurt in last one hour, volume was low, in fact the lowest in March. All these factors indicate that NIFTY might struggle in further northward moment if it fails to pass convincingly 6530 on EOD basis. This could be some indications that steam is lost.
There are some possibilities of new trades but since our accounts are in deep red so far this month we will not enter in any new trade and add to the risk.
Disclaimer: This blog does not take any responsibility of your profit/loss.
No comments:
Post a Comment