Thought for the day
"The words printed
here are concepts. You must go through the experiences."
—St. Augustine (354-430)
Word for the day
Presenteeism
(n)
The practice of coming to work despite illness, injury,
anxiety, etc., often resulting in reduced productivity.
(Source: Dictionary.com)
Malice towards none
Neta Ji files are open to public scrutiny.
Will it bring closure to a long pending issue or open a can
of worms?
First random thought this morning
Everyone knows that trillions of dollars in stimulus in past one
decade have not helped any economic growth. The world economy and markets
remains as vulnerable and tentative as these were in 2008. Many punters and
ingenious bankers have though become unduly rich.
I wonder why then markets are still excited about some more
stimulus by ECB and/or BoJ?
Nifty:
Road to 7950 is full of hurdles
Last week Nifty successfully negotiated its short term support
level of 7200 and closed above 7400. There were three remarkable highlights of
the trading during last week - (a) No spike in implied volatility despite poor
global sentiments; (b) no panic amongst domestic fund managers who continued to
absorb more than what FPIs sold; and (c) little panic in retail segment as
suggested by almost even market breadth on weekly basis.
On monthly charts Nifty has tested its immediate bottom and looks
good for a technical bounce back. A close above 7560 this week will confirm
Monthly bottom at 7200.
On monthly basis Nifty faces a strong resistance in 7950-8040
range and is not likely to surpass it easily. On the way to 8000 there is stiff
resistance present first at 7560 level and then in 7650-7730 range.
Still, the trade for February would be on the long side if we get
a monthly close above 7560 this week.
This week just take care of your short positions.
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