Thought for the day
"A gentleman would be ashamed should
his deeds not match his words."
-
Confucius (Chinese, 551-479BCE)
Word for the day
Fogdog (n)
A bright spot sometimes seen in a fog bank.
(Source: Dictionary.com)
Malice towards none
The
Congress' strategy is intriguing.
They are
just busy cutting the BJP's line short instead of drawing a bigger line of
their own.
The whole
campaign is centered on the theme - "whatever we did bad, you are doing worse"!
Nifty breaks the shackles. How far will it travel?
Nifty completed a bullish reverse head & shoulder pattern last
week. However the volumes and volatility was much lower indicating slower
momentum and lack of conviction.
It is therefore less likely to show the kind of short covering and
buying momentum seen usually seen post such bullish breakouts.
Infosys results this week may be a key trend decider. A close
above 1060 for Infosys may lead NIFTY into its next resistance zone of
8865-8910.
This morning this looks like a likely scenario.
A close below 8470 only would terminate the current upmove.
The moot question however is will Nifty break past its previous all
time high recorded earlier this year.
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