Thought for the day
"The intelligent man who is proud of his intelligence is like
the condemned man who is proud of his large cell."
-
Simone Weil (French, 1909-1943)
Word for the day
Tenderfoot (n)
A raw, inexperienced person; novice
(Source: Dictionary.com)
Malice towards none
Narendra Bhai's
friend Barack's country has embraced Yoga.
Will
Barack's friend Narendra Bhai's country embrace Gay marriage?
Or we just
believe in saying our Mann ki Baat, without bothering about others' Mann ki
Baat.
Lull before the storm
As expected last week (see
here) Nifty faced strong resistance in the 8350-8386 range and failed to
sustain outside this range.
The momentum in the market slowed down considerably despite
F&O expiry last week. Volumes were low. Volatility persisted at lower
levels. Market breadth was even. FPI selling seen in past two weeks subsided.
So did the DII buying. Bonds markets were also subdued with benchmark yields
mostly unchanged, despite failure of RBI auction on Friday.
For the week, Nifty is critically placed at the break out point. A
positive break out might take Nifty to the higher trading range of 8470-8850.
Failure to breakout may however led the market retreat to 7900
level with a rendezvous in 8170-8210 range.
Given the worsening domestic political environment and Greek
referendum scheduled for Sunday, 5th July, it is less likely that a clear
direction will emerge this week.
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