Dark Green Monday

I am hoping for a dark green Monday.

Well ! After a resilient nifty close above the sup of 4820 gave an impression of a "game-changer" ! with a more broad based participation now with Banks taking charge from were RIL left, the rally has been truly broad based n nifty looks poised to resume its uptrend unless I'm overseeing something big.

Both the pre-requisites r present

Lack of negative sentiments.
Loads of liquidity !

With a sl of 4790 I think it will pay to be long for a minimum upside of 4860, after which the previous high of 4889 will again come into play.....most of the global players have confirmed a Nifty break out then I wonder y nifty cannot break the barrier n probably hit that 4950 mark ! May be I'm sounding too optimistic ! But not impossible certainly !

Considering the fact that Realty & Cement ( DLF to a great extent which is off >25 % from 52 week high , n to a lesser extent JP and ACC well below the peak ) & Power ( NTPC & Tata power ) have not participated in the rally & even the defensive stocks like HUL ( off 20 % from high )

Apart from this there is IT sector making fresh highs n with a good break out ( Infy had a fresh high ) & Banks too at a same stage.

Comments

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