Thought for the day
"When a train goes through a tunnel
and it gets dark, you don't throw away the ticket and jump off. You sit still
and trust the engineer."
—Corrie Ten Boom (Dutch, 1892-1983)
Word for the day
Ossify (v)
To become rigid or
inflexible in habits, attitudes, opinions, etc., e.g., A young man who began
to ossify right after college.
(Source: Dictionary.com)
Malice towards none
There are two types of product advertisements - (a)which
mention price of the product being offered; and (b) which do not mention the
price!
First random thought this morning
Post the forecast of normal monsoon, Governor Rajan has hinted at
possibility of further rate cuts. Infosys obliged the bulls by disappointing
the naysayers. USFDA data suggested that the Indian pharma companies are doing great.
The settings are perfect for Nifty to top mount 8k again, after five months.
Nifty:
On the verge of breaking out
I have been insisting that Nifty has completed a market cycle in
February 2016. The cycle had started in late August 2013, got firmly
established in March 2014 and peaked in March 2015.
Now a sustained close above 7980-8060 range (on weekly basis)
would mark beginning of a new market cycle, that shall get firmly established
above 9000 level. Between 8060-9000 level we may see multiple trading
opportunities.
I am also insisting that this cycle would be a larger cycle both
in terms of time period and distance covered.
For now, there is some resistance in 7960-8060 range; but the rise
in momentum suggests that overcoming this resistance will not as difficult as
previously perceived.
On daily charts, I see Nifty testing 8210-8270 range being tested within
next 10weeks.
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