5800 has been very strong st. market has made 3 attempts to breach these levels of 5815-5825 which was successful today. further so far only banks have cracked. real estate is in any case dud sector, so what happens is inconsequential to index.
so now a bounce to 5900 tomorrow and then panic fall to 5650 may just be on cards, with autos, metals and banks cracking more.
the option premium on calls continues to be heavy while puts are not even trading at intrinsic value...talking about nifty options...surprising given how fast we have fallen below key levels
ReplyDeleteDo you think that the correction in Nifty is over? I thought it looked impressive from 5768 on the hourly
ReplyDeleteThe low is in, from a liitle higher some correction may begin,as usual its buy on all dips.
ReplyDeleteI thot it will come to 5650, but it was a little shy of the tgt showing more strength .
hi vipul,
ReplyDeleteread your take on US markets over last couple of days on yelnick blog. it seems that you got the bottom tick the other day.you are really steam rolling.great going.
you must update more here.
oil is also 88+ .maybe it will break out to your targets this time!