Sensex up by 400 points due to new RBI governor Raghuram Rajan's speech.
Relax guys dont get excited. RBI governor can not turn around Indian economy on his own. Just see what market is doing
Current rise in market is just a retest of breakdown which happened on Nifty. So this rise should be used to sell. Buying just because new RBI governor made some good speech and everything will be fine would be foolishness.
Nifty -- Long term trend line has been tested for multiple times before complete breakdown. Current rally should be used to go short than buying. Tgt 5400-5420 SL 5780 on closing basis. Pending targets 5000-4900. Sell rise to 5650-5750 range with SL 5780 and sit tight.
Relax guys dont get excited. RBI governor can not turn around Indian economy on his own. Just see what market is doing
Current rise in market is just a retest of breakdown which happened on Nifty. So this rise should be used to sell. Buying just because new RBI governor made some good speech and everything will be fine would be foolishness.
Nifty -- Long term trend line has been tested for multiple times before complete breakdown. Current rally should be used to go short than buying. Tgt 5400-5420 SL 5780 on closing basis. Pending targets 5000-4900. Sell rise to 5650-5750 range with SL 5780 and sit tight.
 |
Nifty - Weekly Chart |
Thanks for the info Sivaji.
ReplyDeleteSivaji, Can you please suggest a book for learning Technical analysis. I have basic idea on markets and have been following indian markets since 2 years.
ReplyDeleteMany thanks in advance..