November 10, 2016

Market outlook

Daily charts
- trend is down on daily charts
- we had a fast/ strong reversal in 2 days
- have a doubt if this will sustain
- today, markets closed above 8500
- but close was near day's low
- option writers bullish that 8000 will not break in DEC
- why do they expect 8000 not to break? when we are already at 8500?
- Why not 'expecting support' at 8400 or 8200?
- so what is the market trying to tell us?


6 comments:

  1. with the big fall all supports till nifty 8000 also get broken so if now there is a fall ; nifty could resume its fall down to 8000 ?

    ReplyDelete
  2. rising with islands..so falling will be with islands..Any comment sir?

    ReplyDelete
    Replies
    1. A 30-50 point gap down opening is required... I don't see that happening.

      Delete
  3. Dear sir Banks constitute about 40% of Nifty weight.Due to demonetization they would attract huge low cost deposits which would have a significant effect on their profitability. so bank nifty would uplift the Index.

    ReplyDelete
    Replies
    1. I don't think so... the money people are depositing now will be withdrawn in few weeks.

      Delete

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