that will mean a bounce to 6150 or so atleast. including today there have been 2 news based sell off, taking mkt to 5825. mkt gives only 3 chances. even on news stocks like lic hsg shouldnt crack ideally. tomorrow will be very important for lic.if it gaps down /stays down , it will come to 800 odd levels.alternatively it will make a marginal low and head to 1150. volatility is extreme even for nimble traders.
line in the sand is more like 5800.it has been a volatile but relentless sell off and banking sector has been most targeted off the strong sectors.hence new horses have to be found to take index forward. maybe reliance is that dark horse, reserved so far. reliance can max consolidate for few mnths say till march 11. then it should come to 1500+
Potential reversal above 6025-35 if achieved within a day or so?
ReplyDeletethat will mean a bounce to 6150 or so atleast.
ReplyDeleteincluding today there have been 2 news based sell off, taking mkt to 5825.
mkt gives only 3 chances.
even on news stocks like lic hsg shouldnt crack ideally. tomorrow will be very important for lic.if it gaps down /stays down , it will come to 800 odd levels.alternatively it will make a marginal low and head to 1150.
volatility is extreme even for nimble traders.
Despite all the bad news we are still above 5825..
ReplyDeleteany other line in the sand for you on the downside?
any thoughts on reliance?
line in the sand is more like 5800.it has been a volatile but relentless sell off and banking sector has been most targeted off the strong sectors.hence new horses have to be found to take index forward.
ReplyDeletemaybe reliance is that dark horse, reserved so far.
reliance can max consolidate for few mnths say till march 11. then it should come to 1500+
thks.. just curious. why march 11? is it something like to do with c=a+b in terms of time?
ReplyDeleteMarch 11 is like march 2011!
ReplyDeleteAnd not 11th of march. Consolidation has to end sometime