Nifty-50

Nice one Jignesh!!!

 

Don't you think that bubble is now forming? Look at the Nifty PE ratio after today's close.

 

I think 8880 could be major resistance for the nifty to cross.. Also it is trading at very high PE of 22.48. The AD ratio since last some of the days shows negative and still nifty is moving up...(Buying in only nifty stocks and selling in mid cap and small cap)

I see very sharp correction is due, ahead of expiry...

The problem with stop loss, over here is that you cannot do anything if it opens gap down..

 

Yes indeed nifty has run a lot and a pause is in-waiting...

Fed meet is coming up on Jan 27/28, so as an event it has significance.

On the other hand, Obama-Modi meet has been sweet and gone well as per news till now with good outcome on n-deal.

On a pure technical front, its sad but I feel that quite a few things are NOT going as per what technicals suggest. Mkt relying more on other things than only technicals.

But surely Shabbir, the roi is not looking good now on the long side as mkt raced up too much I feel so.

 

Hi jignesh

Nifty again showed strength & closed above resistance which you pointed out at 8880. Again something not following too much technicals.

Many scrips are continuously making new lifetime highs and there's almost no stopping.

Funny thing is that scrips are making lifetime highs on the back of bad results (below expectation) as in case of Maruti today. FIIs cheered Obama-Namo meet.

Be on the long side of Nifty with tight stop loss and a minimum tgt of 9100.

Shabbir - any thoughts on today's rally?

 

Look tomorrow... Technical analysis can predict levels, but it is not necessary that it exactly rebound from that level. It is still around 8880 ( 30 points up) and strong possibility to show correction.

 

Yes u r right man!!!! I know what u are saying....

Thanks for sharing your thoughts!

 

Nifty tanked 150 pts today finally on back of poor and dismal results from Bank of Baroda and ICICI Bank.

Much awaited fall by many came in finally today after some non-stop run.
Its pretty much news driven market now - what is your opinion Shabbir?

 

Yup I avoid the index as much as possible. Not suitable for me I think so.

In recent times become all the more volatile & more driven by news.

 

Look at left highlighted side, where we took 19 candles to reach 8620 , in middle 4 candles and again we are covering this distance with 4-5 candles??

 

Shabbir , your view on the nifty for the current situation...

 

Expiry next week.
How much correction do you see ? Any apprx tgt for the Nifty ?

 

By looking at OI which is put OI are high at 8300 and call OI are high at 8500
So I expect to see 8400/8450 levels if bounce comes on Monday.
Why do you see so much bearish, shabbir?