Monday, December 14, 2015

Nifty: In search of a bottom


Thought for the day
"When a stupid man is doing something he is ashamed of, he always declares that it is his duty."
—George Bernard Shaw (Irish, 1856-1950)
Word for the day
Fugacious (n)
Lasting but a short time; fleeting.
(Source: Dictionary.com)
Malice towards none
Bullet train is welcome!
Please also find a way to abolish hand pulled rickshaws and freight carts!
First random thought this morning
History has been created in Paris. Regardless of the skeptics who would want to find split hairs and find loopholes in the landmark climate deal, I see this deal as portent of hope for humanity.
This shows that global cooperation may after all not be dead as yet. The elements which might have based their strategies on lack of global cooperation would be shocked. Resumption of Indo-Pak composite dialogue and joint strategy for operation against IS are few other indicators.
Would be interesting to see if US Fed also adds to the cooperative spirit by not rocking the boat. The bear cartel may better watch out!
Nifty: In search of a bottom
In strict technical terms, Nifty has broken down all major supports and appears all set for a southward journey in search for a strong base upon which the next bull market could be founded.
As suggested last week (see here), it is after a long time that Nifty has weakened on short, mid and long term charts simultaneously. I see Nifty hitting the rock somewhere between 6650 and 7200 level in next 13weeks.
The excitement that market may see on investment deals with Japan, revival of hopes on GST Bill, surprise positive IIP data for November, Paris climate deal and FOMC decision - could be an opportunity for rationalizing portfolios by raising some cash and reducing beta



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