Thought for the day
"Fear cannot be
without hope nor hope without fear."
—Baruch Spinoza (Dutch, 1632-1677)
Word for the day
Despondent (adj)
Feeling or showing
profound hopelessness, dejection, discouragement, or gloom
(Source: Dictionary.com)
Malice towards none
Did the legacy of Takshshila decided to stay back in
Pakistan in 1947 or it relocated to India?
An RTI query on this has been returned unanswered.
First random thought this morning
School students in Maharashtra read little or nothing about
history and legends of South, East or North India. Students in Mumbai cannot
even name all North Eastern states. None of the seven 10th class Delhi students
I spoke to were aware about a region named Rohilkhand in India. Students in UP,
Punjab, Bihar, Rajasthan are mostly ignorant about Thiruvalluvar, Subramanya
Bharti, Eknath, and Chandidas.
Confirm this state of affairs with your children and tell me how
do we propose to achieve national integration? Sedition.....hummm....could the
creators and managers of our education system and policy be framed under
Section 124A.
Greed
capitulating fast
The greedy trade that refused to budge has suddenly capitulated.
The outperformance of broader market since past 27months, has materially
corrected in past couple of weeks. Historically, this is a material sign of
market cycles bottoming.
The sharp rise in implied volatility witnessed last week, if
sustains this week, will be another significant indicator of acceleration in
bottoming process.
In strict technical terms, in my view, a monthly close above 7200
in Nifty will establish a cycle bottom at 6850.
The beginning of a new market cycle will be confirmed with a
weekly close above 7610.
There are some deep cracks on daily charts that may take upto
8weeks of improved volume and strong momentum to repair. No move of 1% in Nifty
on closing basis and 2% on intra basis for 7 consecutive trading sessions will
indicate full recovery on daily charts.
The Nifty shorts needs to cover this week.
The Nifty longs may wait for another week.
No comments:
Post a Comment