GOOD MORNING !!!
MARKETS OPENED AS EXPECTED, INDICES INITIALLY SLIPPED TO THEIR INTRA-DAY LOW LEVELS IN THE OPENING MOMENTS OF THE TRADE TRACKING WEAK CUES FROM THE GLOBAL CUES AND TOWERING CRUDE OIL PRICES ON CONCERNS THAT CONFLICTS IN MIDDLE EAST COULD FURTHER TIGHTEN THE SUPPLIES. HOWEVER, ON REPORTS THAT BILLIONAIRE INVESTOR WARREN BUFFET INTENDS TO USE THE HUGE CASH PILE OF HIS FLAGSHIP FIRM BERKSHIRE HATHAWAY TO ACQUIRE COMPANIES IN INDIA, AN INVESTMENT DESTINATION BUFFETT FEELS IS TOO BIG TO BE CALLED AN EMERGING MARKET; MARKETS SOON STAGED A STRONG AND STABLE PULLBACK THEREAFTER LED BY GAINS IN BANKING, FMCG, HEALTHCARE AND METAL STOCKS. THE INDICES GRADUALLY GAINED TRACTION AND SAILED BEYOND THE CRUCIAL SUPPORT LEVELS IN THE INDICES, THERE WAS NO BOUTS OF PROFIT BOOKING THAT TOOK PLACE IN THE MARKETS AND MARKETS MANAGED TO CLOSE AT THE HIGHER HIGHS OF THE DAY WHICH IS CONSIDERED TO BE A VERY GOOD CLOSING, THE BREADTH OF THE MARKET WAS POSITIVE.
TODAY MARKETS WOULD OPEN POSITIVE AND REMAIN ON THE POSITIVE SIDE. IF NIFTY TRADES ABOVE 5500 THEN LIKELY TO MOVE UP TO 5528 LEVELS AND THEN TO 5547 LEVELS ANY BREAK ABOVE 5550 WOULD TAKE NIFTY TO 5581 LEVELS. ON THE FLIP SIDE IF NIFTY TRADES BELOW 5493 THEN LIKELY TO MAKE ITS JOURNEY TO 5472 LEVELS AND THEN TO 5450 WHICH TODAY MAY NOT BE POSSIBLE BUT ONE HAS TO BE VERY CAUTIOUS IN THE MARKETS THOUGH THIS SHORT TERM PULL BACK MAY CONTINUE FOR THIS WEEK BUT THE OVERALL POSITION IN THE MARKETS STILL REMAIN WEAK AND WE MAY HEAD DOWN ONCE AGAIN, EVEN THOUGH IT IS VERY POSITIVE IN THE MARKETS FOR TIME BEING IT DOESN’T TAKE TOO LONG TO WEAKEN SO BE AWARE OF THIS POINT THAT THERE MAY BE A DRAG IN THE INDICES GOING FORWARD SO DON’T ADD TOO MANY POSITIONS ON THE LONG TERM HORIZON. ONE CAN TAKE POSITION ON INTRADAY TO VERY SHORT TERM. CRUDE AGAIN IS ONE OF THE BIGGEST CONCERNS IN THE MARKETS WITH THE GLOBAL UNCERTAINTY.
MARKETS OPENED AS EXPECTED, INDICES INITIALLY SLIPPED TO THEIR INTRA-DAY LOW LEVELS IN THE OPENING MOMENTS OF THE TRADE TRACKING WEAK CUES FROM THE GLOBAL CUES AND TOWERING CRUDE OIL PRICES ON CONCERNS THAT CONFLICTS IN MIDDLE EAST COULD FURTHER TIGHTEN THE SUPPLIES. HOWEVER, ON REPORTS THAT BILLIONAIRE INVESTOR WARREN BUFFET INTENDS TO USE THE HUGE CASH PILE OF HIS FLAGSHIP FIRM BERKSHIRE HATHAWAY TO ACQUIRE COMPANIES IN INDIA, AN INVESTMENT DESTINATION BUFFETT FEELS IS TOO BIG TO BE CALLED AN EMERGING MARKET; MARKETS SOON STAGED A STRONG AND STABLE PULLBACK THEREAFTER LED BY GAINS IN BANKING, FMCG, HEALTHCARE AND METAL STOCKS. THE INDICES GRADUALLY GAINED TRACTION AND SAILED BEYOND THE CRUCIAL SUPPORT LEVELS IN THE INDICES, THERE WAS NO BOUTS OF PROFIT BOOKING THAT TOOK PLACE IN THE MARKETS AND MARKETS MANAGED TO CLOSE AT THE HIGHER HIGHS OF THE DAY WHICH IS CONSIDERED TO BE A VERY GOOD CLOSING, THE BREADTH OF THE MARKET WAS POSITIVE.
TODAY MARKETS WOULD OPEN POSITIVE AND REMAIN ON THE POSITIVE SIDE. IF NIFTY TRADES ABOVE 5500 THEN LIKELY TO MOVE UP TO 5528 LEVELS AND THEN TO 5547 LEVELS ANY BREAK ABOVE 5550 WOULD TAKE NIFTY TO 5581 LEVELS. ON THE FLIP SIDE IF NIFTY TRADES BELOW 5493 THEN LIKELY TO MAKE ITS JOURNEY TO 5472 LEVELS AND THEN TO 5450 WHICH TODAY MAY NOT BE POSSIBLE BUT ONE HAS TO BE VERY CAUTIOUS IN THE MARKETS THOUGH THIS SHORT TERM PULL BACK MAY CONTINUE FOR THIS WEEK BUT THE OVERALL POSITION IN THE MARKETS STILL REMAIN WEAK AND WE MAY HEAD DOWN ONCE AGAIN, EVEN THOUGH IT IS VERY POSITIVE IN THE MARKETS FOR TIME BEING IT DOESN’T TAKE TOO LONG TO WEAKEN SO BE AWARE OF THIS POINT THAT THERE MAY BE A DRAG IN THE INDICES GOING FORWARD SO DON’T ADD TOO MANY POSITIONS ON THE LONG TERM HORIZON. ONE CAN TAKE POSITION ON INTRADAY TO VERY SHORT TERM. CRUDE AGAIN IS ONE OF THE BIGGEST CONCERNS IN THE MARKETS WITH THE GLOBAL UNCERTAINTY.
