Friends, I would like to apologize for yesterday. I had gone out somewhere and when I came back home, some guests were over and left well past midnight and then it was too late to study charts and share my analysis with you. Today again it is very late in the night, yet I came back to share with you my thoughts because I do not want my readers and subscribers to go without analysis for two days in a row. Today is a very happy day for me. If you see in the left sidebar, on the top left corner first of all, a clock is there below which is a link to subscribe to my daily newsletters via e-mail or through a reader. If you can see the orange counter, you would see that I have now more than 100 subscribers who are getting my daily analysis by email. I’m sure that with the support and co-operation of my readers, this number would continue to grow by leaps and bounds. (Amen!!!)
The Nifty, over the last 6 days has given a total range of less than 200 points. Range of 6 days is calculated as the difference between the highest and the lowest price in these 6 days. This works out to a nearly 4% range in 6 days. Looking at the closing price, it has just risen by 12 points in the last 6 days. There seems to be something wrong somewhere. As I mentioned in my last post I am just not convinced with the rise even after so many positives have been seen. I asked for an opinion from my readers about what they feel about the markets in different time frames and the opinion seems to be divided. Sanjay has given a very interesting observation that while he expects the market to come down in the next 2 months, he is very optimistic about it with a 2 year time horizon in mind. I somehow tend to carry the same view as Sanjay. Once we have seen the worst of the world recession, there would be a new beginning and we would touch much higher highs than what were seen last time but the recovery, initially, would be a gradual process. A 800 points rally in 2-3 weeks is not a sign of a new beginning. Piyush Modi also has left a very good comment on the same post on my old blog and what he says does make sense. Fundamentally, things do seem to be looking a little better but it is too early to say whether this improvement is only temporary or it is for here to stay.
The Nifty, over the last 6 days has given a total range of less than 200 points. Range of 6 days is calculated as the difference between the highest and the lowest price in these 6 days. This works out to a nearly 4% range in 6 days. Looking at the closing price, it has just risen by 12 points in the last 6 days. There seems to be something wrong somewhere. As I mentioned in my last post I am just not convinced with the rise even after so many positives have been seen. I asked for an opinion from my readers about what they feel about the markets in different time frames and the opinion seems to be divided. Sanjay has given a very interesting observation that while he expects the market to come down in the next 2 months, he is very optimistic about it with a 2 year time horizon in mind. I somehow tend to carry the same view as Sanjay. Once we have seen the worst of the world recession, there would be a new beginning and we would touch much higher highs than what were seen last time but the recovery, initially, would be a gradual process. A 800 points rally in 2-3 weeks is not a sign of a new beginning. Piyush Modi also has left a very good comment on the same post on my old blog and what he says does make sense. Fundamentally, things do seem to be looking a little better but it is too early to say whether this improvement is only temporary or it is for here to stay.

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