GLOBAL STORY (18-5-2013):
Finally inflation dropped below 5% which always prompted heavy short covering coupled with FII buying. This bought nifty at 6200 which is not too far from its all time high figure of 6330/6336
We had mentioned 6210 will come and nifty now close to 6200. We still believe that 6210 is a major resistance. If some deceiving more has to happen it might travel to 6250/6300 but surely correct till 6000 before loading to new levels.
The settlement is expiring on 30th May which suggests 9 trading left. We had been holding our view from when that ICM & IPL are no different. IPL has come in public domain & whole world has realised about fixing .Same way (ICM) Indian capital market too will come in public domain where absence of physical settlement is used to for controlled moves in the market. The V –SHAPED movement of market is completely managed and visible but for evidence will remain under carpet till its gates get opened in public domain.
Huge OI of Rs 6000 put clearly suggest that market may travel till 6000 during the settlement period. We clearly suggest no big buying for next 9 sessions. Rather one can selective short with strict stop losses at every rise.
How-ever mid-cap stocks action will start as large cap stocks are becoming expensive pick.
Finally inflation dropped below 5% which always prompted heavy short covering coupled with FII buying. This bought nifty at 6200 which is not too far from its all time high figure of 6330/6336
We had mentioned 6210 will come and nifty now close to 6200. We still believe that 6210 is a major resistance. If some deceiving more has to happen it might travel to 6250/6300 but surely correct till 6000 before loading to new levels.
The settlement is expiring on 30th May which suggests 9 trading left. We had been holding our view from when that ICM & IPL are no different. IPL has come in public domain & whole world has realised about fixing .Same way (ICM) Indian capital market too will come in public domain where absence of physical settlement is used to for controlled moves in the market. The V –SHAPED movement of market is completely managed and visible but for evidence will remain under carpet till its gates get opened in public domain.
Huge OI of Rs 6000 put clearly suggest that market may travel till 6000 during the settlement period. We clearly suggest no big buying for next 9 sessions. Rather one can selective short with strict stop losses at every rise.
How-ever mid-cap stocks action will start as large cap stocks are becoming expensive pick.
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