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Correction ends successfully - Consolidation starts |
givemegold
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Joined: 12 Sep 2010
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Post: #1  Posted: Tue Feb 28, 2012 8:23 am Post subject: Correction ends successfully - Consolidation starts |
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The arithmatic is simple - Investors wanted to book some profits due to :
(1) MCX-IPO investment ( remember Ultra huge subscription by HNIs )
(2) HDFC bulk purchase (around 2 billion dollars )
(3) Govt controlled Big DIIs like LIC were asked to pump in more money to PSU Banks.
Now these seems to be over.
Expect nifty to swing between 5700 - 5300 levels for some more time... as consolidation starts now.
My personal understanding after one to one discussion with some serious investors - both swadesi & videsi... people are waiting with ship loads of money to buy at every mouth watering levels. These are all not dumb money. They are the drivers of this market. They play safe - shrewed.
If Pranab saheb gives us a budget that gives some hope of higher growth- at least not hindering sentiment of the investors - new high can be kissed swiftly. Remember May 2009. Even if there is nothing for the market - 4500 will be protected with iron fist... because of simple reason... that cherry picking will be started below 4800 levels seriously by smart monies.
Latest statistics -- FII derivates Open position - Their futures OI came down yesterday (both for index & stock) that indicates they were winding up some of their shorts.
Their Options OI went up - indicates they may be writing heavily on some of the out of money calls and puts.
Look at the xl sheet attached.
Good day...
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givemegold
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| Post: #2 Posted: Tue Feb 28, 2012 9:00 am Post subject: |
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Enjoy - Golden cross over celebration
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opportunist
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Joined: 27 Apr 2010
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| Post: #3 Posted: Tue Feb 28, 2012 9:09 am Post subject: |
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| givemegold wrote: | | Enjoy - Golden cross over celebration |
Correction (read downslide) may continue till 15 march when budget is presented.
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givemegold
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| Post: #4 Posted: Tue Feb 28, 2012 9:17 am Post subject: |
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| @oppo-- oh yeah.. nice it is... i can buy more at lower levels
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givemegold
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Joined: 12 Sep 2010
Posts: 121
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| Post: #5 Posted: Wed Feb 29, 2012 7:25 am Post subject: Bulls - Fully recharged -- Witness the Golden cross over |
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FIIs are bringing more money into our market and continued to buy at every lower levels. Once again yesterday they bought around Rs.727 crores. Dow closed above 13K onceagain after a long gap.
As expected by me - Golden cross over happened in EMA parameter. It has happened already in WMA parameter few days before and it is sustaining there. Only in TMA and SMA parameters it is still lagging.... but remember crossing 200 tma / sma will be a cake walk, if this buying spree continues. It is still within a stone throw distance.
My understanding says - by this week end we will get confirmation of Golden cross over in all the above 4 parameters ( WMA, EMA, SMA, TMA) and this confirmation along with a market friendly budget will add fire to the rocket booster - and Indian Markets will witness New Life time high.
Remember: FII Bulls are, simultaneously well prepared to mitigate any unexpected worst risks - while working enthusiatically to make reality of their dream of registering new life time highs in Indian Market.
Congrats to bulls - Good Luck
Nifty spot and Bank nifty spot -Golden cross over charts 
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KatrinaaDP
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| Post: #6 Posted: Wed Feb 29, 2012 7:33 am Post subject: |
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| very good sir
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givemegold
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| Post: #7 Posted: Wed Feb 29, 2012 9:01 am Post subject: |
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| Nifty's future premium of 55++ may start coming down to normal level (15-25)... lets c
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prabit
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Joined: 02 Jul 2009
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| Post: #8 Posted: Wed Feb 29, 2012 9:22 am Post subject: |
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| givemegold wrote: | | Nifty's future premium of 55++ may start coming down to normal level (15-25)... lets c |
yes givemegold, terrific analysis.thanks.
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