Thought for the day
"The cause of homelessness is lack of
housing."
—Jonathan Kozol (American, 1936)
Word for the day
Abeyance (n)
Temporary inactivity, cessation, or suspension
Malice towards none
Does AAP need to be taken seriously in Goa and Punjab elections;
or it is merely a Delhi phenomenon?
First random thought this morning
Metaphorically speaking, presently the global economy is just like
Dead Sea. Nobody sinks in this, but chances of any life surviving in this are
remote. Floating with your eyes and mouth shut is the only option.
These days it is becoming marketed aggressively as a popular
exotic health tourism destination.
Nifty:
All set for mount 9k
Nifty moved higher last week, trampling many resistances on it
way. However, given that the rally was purely liquidity driven with not much
support from data side, the up move lacked conviction.
Volumes were not commensurate with the level of activity. Implied
volatility crashed to further lows. Market breadth was absolutely flat.
Regardless, technically speaking, Nifty is poised to move past
9000 mark sometime in next 8 weeks. Only meaning full resistance now exists
around 8990 level. A strong support has developed in 8606-8630 range.
On bank Nifty, the resistance at 20k has weakened materially last week. The
next 1000 point move could be fast and furious. A good support has developed in
19340-19400 range. However, the strong support remains at 18600 level.
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