Thursday, June 20, 2013

Ranbaxy Up, R. Com Down, Nifty Yet to Decide

It's been a long time since I wrote last. And there's a good reason for that. I've been bearish on the Nifty for so many days now and there has been no change in the view till now so there was nothing new to mention. Such downsides will not come via a one-way movement and there are bound to be some corrections in between. What we are seeing now is a correction. Now, whether this rally that we are seeing is a correction or the bigger downside was a correction is yet to be seen. This present rally has started showing signs of a much bigger rally that may be coming. One may just have to be careful now and convert short positions, if any, into long positions when the time comes. 

Tuesday, June 4, 2013

Nifty Going Down, Maintain Shorts

Today the Nifty opened on a stronger note but soon started falling and within minutes it was in the red and from thereon, it was a unidirectional fall for the Nifty, except in the last hour and a half when it made a strong recovery, but not enough to bring it in the green. In the process, just after opening it made a high of 5996, in the mid-afternoon it touched a low of 5917, recovered to 5951 and then ended the day 46 points in the red at 5939. Well, the Nifty made it clear today that it is going down and going down a long way. But the small recovery towards the end could be a signal that a small bounceback could come.