Thought for the day
"I've had it with you
and your emotional constipation!"
—Washington Irving (American, 183-1859)
Word for the day
Desiderata (plural
noun)
Things wanted or
needed; the plural of desideratum.
(Source: Dictionary.com)
Malice towards none
The advertizing corporates are turning intolerant towards
Amir Khan.
Will a celebrated career end for absolutely wrong reason?
First random thought this morning
A visit to the Auto Expo in Grater NOIDA last weekend made four
things clear: (1) The aspirations of young India are really flying high; (2)
Indians' preference for larger and better cars is growing with each new model
launch; (3) The Indian car market is becoming seriously competitive; and (4)
Our administration is seriously unequipped and under-trained for holding large
events.
The current market cycle started in September 2013. Like any other
bull market, the broader markets have massively outperformed the benchmark
indices in this cycle too.
Though the two corrective phases, one in August-September 2015 and
the other in January-February 2016 have reduced the outperformance to some
extent, however there is still nothing to suggest that the market cycle that
started in summer of 2013 is coming to an end.
Juxtaposed to persistently lower volatility, increasing
participation of domestic investors despite consistent FPI selling in past many
weeks, good response to IPOs, and mostly positive market breadth, it could be
said that greed is still the dominant sentiment in the market and no collapse
is imminent, save for a Lehman type global event.
As I highlighted last week, in strict technical sense, Nifty has already
secured a midterm bottom around 7200 and looks set for an up move on monthly
charts. After trading with higher intraday volatility short term charts have
also cooled down a bit. A weekly close above 7610 will set market up for a
decent up move. Anything below 7350 is a buying opportunity for me.
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