Thought for the day
"Reality must take precedence over
public relations, for nature cannot be fooled."
— Richard P. Feynman
(American, 1918-1988)
Word for the day
Obviate (v)
To anticipate and
prevent or eliminate(difficulties, disadvantages, etc.) by effective measures;
render unnecessary: to obviate the risk of serious injury.
(Source: Dictionary.com)
Malice towards none
VK and ABD are on their way to become all time great in history
of cricket, i.e., till a new star emerges on the horizon.
First random thought this morning
The stock Apple is down 27% in past 52 weeks and presently trades
at ~10x trailing twelve months earning. The Indian consumer durable stocks with
no innovation, little technology leadership, and no cash on balance sheet trade
at 20-50x. The market could be irrational longer than usual but not till
eternity. The question is who will be left holding the baton when the sun
finally sets at the horizon.
Nifty:
Still in consolidation mode, greed rising
Nifty sustained its weekly break down point of 7730 for second
consecutive week (see
here) and ended 1% higher on weekly basis.
On midterm charts, it appears much stronger as compared to couple
of weeks ago. In my view it may consolidate for 3-4 weeks in broader 7690-8140
range and make a big move thereafter. At this point in time I would
rate the probability of move being in north direction as 67%.
I will therefore be buying all the dips henceforth.
Two things are noteworthy for traders. One, after a long time, last
week both FPI and DII were net buyers on weekly basis; though the level of
activity and volumes were low. Two, the "greed" has again started to
dominate "fear".
Nifty showing no sign of weakness as yet
...as greed begins to dominate fear yet again
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