Some members are genuinely worried for a huge sell off as against a general dip or consolidation or sideways movement. I am not in a position now to do fresh analysis of the NIFTY charts; so I will comment based on my overall perception of the market for the rest of the year. Keep in mind though that I am not. Fortune Teller, so my views may be proved to be incorrect.
I do not think there will be a huge sell off leading to NIFTY dipping to 5600; it can dip to 5830 in the short term but 6000 seems to be a strong support Q2 results may be a dampener for some stocks; liquidity crunch, RBI rasing interest rates on Nov 2, large number of IPOs, poor IIP numbers all carry some negative signs.
The market valuations have risen a bit faster compared to its actual achieved growth. So expect some profit booking and price dipping. On the other hand, stocks with good potential but which had been
sleeping so, far, will probably now participate. Whatever is the outcome, it is a good strategy to keep booking profits and reducing exposures. NIFTY will make new highs like 6490 close to new year 2011.
SCROLL DOWN FOR NEWS FROM ECONOMIC TIMES
No comments:
Post a Comment