Nifty

#76 Nifty Update

Clean Bowled!!!! Bulls were out in the first ball and bears took control over them in today’s match. Bears had the winning edge since market opened the batting with 5053 on the score card which was todays high. It made new lows each hour and closed at 4944 down by 112 points. Market is getting more and more difficult for investors. Now a days even FII has introduced one more checklist before investing in stock i.e., political link of the company and its operations. Many research house has came out with political indicators to show up how strong is the relation of company with the politics. Those were the days when politically attached stocks were given preference  for high profitability. Today Banking stocks were beaten first on fears of rate hike and then others followed. NTPC gave its sole order to BHEL till now but now have thought of giving its next five year plan orders to even private companies. orders are worth Rs.2 Trillion which will bring up momentum in production of power utility equipments. CCI has cleared RIL-BP deal and has given the clean chit to Jet -Kingfisher deal which was formed in 2008. Maruti has launched its new swift and have received pre launch booking of 50000 cars which is a positive boost. European markets have seen a bearish mood on the weak economy. Jet Airways are shifting totally to low fare model specially in domestic routes to attract mass in such weak economy conditions. Techincally speaking market is trading at 52 week. As expected market has breached 5000 level mark and we expect it to support at 4800 level which i think will be best time to start shopping. Hold yours shorts on NIFTY with tgt of 4788.
NIFTY levels for 19th August:-
R-4986                  S-4925
R-5017                  S-4886
R-5036                  S-4800
R-5056                  S-4788

Leave a Reply

Your email address will not be published. Required fields are marked *