Saturday, August 14, 2010

The Deadlock Continues

The Market continues to test everyone's patience. The Dow was down almost 3.5 % during the week. Our markets gained only 0.2 pc or 13 points on the Nifty. The Sensex rose by 24 points but 84 points were contributed by SBI.

1. FIIs have pumped in over 4000 crores in August and 16000 crores this year.The nifty has rallied only 2 pc in spite of almost a billion dollars being pumped.

2. The Gann fans show that the critical resistances around 5500 have still not been cleared.

3. The only guys making money are the Option Writers. The Indian VIX has collapsed to all time lows which also indicate the possibility of the market correcting.

4. The domestic triggers are exhausted and there is absolutely no life in the markets. The best option is to sit back and enjoy the Independence Day weekend.

My guest post would be posted on Subhankar's blog in the next 2-3 days, catch that.

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