Dear Visitors,
As i had said, Nifty has broken almost 500 points from the begining of the month. I expect a small recovery of 50-70 points in Nifty, BUT THE SHORT TERM TREND REMAINS DOWNWARDS. Keep a stoploss of 30-40 points below ur short sell rate. My stoploss will be 2750.
The results of RIL did not affect the markets much as they where above the worst expectations. But still the medium term story remains bearish as we will witness many insolvency/bankruptcies in US markets as well as other World Markets. remain very cautious. Long term investors can start accumalating stocks like RIL, ONGC, & other frontliners when Nifty comes to 2300-2400 levels.
NIFTY IS LOOKING VERY WEAK AND I FEEL THAT 2400 LEVELS WILL BE BROKEN THIS WEEK. FUTURES CONTRACT EXPIRY WILL ALSO CONTRIBUTE TOWARDS THE FALL. NEW MEMBERS ARE ALSO SUGGESTED TO GO SHORT IN NIFTY WITH STOPLOSS AT 2700 LEVELS.
