NEW SERIES STARTS WITH HOPE
Good rally in US, Dollar Index slips further
Brent crude approaches $118, remains concern
Nifty has shown willingness to defend 15,800
Big question is on the health of broader market
((SGX Nifty))
TRADE SETUP
Nifty bounced yesterday but was it just short covering?
As expected, HDFC twins led the short covering move
Most of top gainers of day were biggest losers of series
Just like April, market may be due for a counter trend rally
Any counter trend rally will be over below 15,800
Market may give another opportunity to exit leverage
Poor quality stocks must be squared off in rally
Market’s leadership has changed from IT to Banks
Keep an eye on Adv/dec, Nifty Jr for market’s health
Good rally in US, Dollar Index slips further
Brent crude approaches $118, remains concern
Nifty has shown willingness to defend 15,800
Big question is on the health of broader market
((SGX Nifty))
TRADE SETUP
Nifty bounced yesterday but was it just short covering?
As expected, HDFC twins led the short covering move
Most of top gainers of day were biggest losers of series
Just like April, market may be due for a counter trend rally
Any counter trend rally will be over below 15,800
Market may give another opportunity to exit leverage
Poor quality stocks must be squared off in rally
Market’s leadership has changed from IT to Banks
Keep an eye on Adv/dec, Nifty Jr for market’s health