Thought for the day
"A leader is best when people barely know he exists, when his
work is done, his aim fulfilled, they will say: we did it ourselves."
- Lao Tzu (Chinese5th or 6th Century BC)
Word for the day
Olio (n)
A mixture of heterogeneous elements; hodgepodge.
(Source: Dictionary.com)
Malice towards none
Who is a
patriot and who is not;
Who is a
seditionist and who is not;
Who can
judge and who cannot;
Who should
judge and who shouldn't?
NIFTY: gathering strength to break the range
In past one year Nifty has mostly remained in 8000-8600 range,
with breif excursions on both sides of the range.
The current trend seem to indicate that it still does not have enough
momentum to break the range on either side. Sluggish volumes and volatility
indicate that it may take at least few months more to sustainably break out of
this range. Nonetheless small excursion outside this range are still likely in
next three months.
In the immediate term, a strong resistance zone operates in
8600-8800. A close above 8850 in next 6weeks (not unlikely), shall bring it in
resistance free zone of 8930-9150.
Whereas a close below 8336 on failure of this up move shall bring
it to rest in support free zone of 8010-8224 (again not unlikely).
Therefore in effect 8336-8850 is a No Trade zone.
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