All the positives are priced in the markets and we are in a resistance zone. Let us see what course the markets take next? Markets are poised interestingly.
1. The zone between 8250 and 8350 is a strong resistance zone. Any moves above this will open the flood gates for 8600-8700. I have reached several conclusions since the end of February bottom.
2. The bottom seems to be conclusively in place for now. There could be a correction to 7900-8000 levels but that should be a buying opportunity.
3. This markets is headed to fresh new highs in the next 12 months. A god monsoon itself should see it propelling towards fresh highs.
4. The RBI policy on Tuesday is a non event and may be a trigger for mild correction. I expect status quo to be maintained.
5. The rains are supposed to hit Kerala in the next couple of days and the progress of the monsoons will be closely watched.
6. The Brexit, that is UK leaving the European Union and others are all in the distance towards 23rd June.
7. Politically, the GST seems to be closer to passage then any time before. 2 things have changed. The number of Congress MPs have reduced and second is Jayalalitha may join the Government. This will make a huge difference to the GST bill. Mamata Banerjee has already indicated support for the GST bill.
The markets have rallied and rallied strongly proving all naysayers wrong. The tone has changed from sell on rises to buy on dips. Let us now join the rise up, and make money.
I hope many subscribed to the Mahindra Finance NCDs. The issue closed in 2 days and was oversubscribed 4 times with option to keep all the money. I expect the allotment to be done in the next 2 days.
1. The zone between 8250 and 8350 is a strong resistance zone. Any moves above this will open the flood gates for 8600-8700. I have reached several conclusions since the end of February bottom.
2. The bottom seems to be conclusively in place for now. There could be a correction to 7900-8000 levels but that should be a buying opportunity.
3. This markets is headed to fresh new highs in the next 12 months. A god monsoon itself should see it propelling towards fresh highs.
4. The RBI policy on Tuesday is a non event and may be a trigger for mild correction. I expect status quo to be maintained.
5. The rains are supposed to hit Kerala in the next couple of days and the progress of the monsoons will be closely watched.
6. The Brexit, that is UK leaving the European Union and others are all in the distance towards 23rd June.
7. Politically, the GST seems to be closer to passage then any time before. 2 things have changed. The number of Congress MPs have reduced and second is Jayalalitha may join the Government. This will make a huge difference to the GST bill. Mamata Banerjee has already indicated support for the GST bill.
The markets have rallied and rallied strongly proving all naysayers wrong. The tone has changed from sell on rises to buy on dips. Let us now join the rise up, and make money.
I hope many subscribed to the Mahindra Finance NCDs. The issue closed in 2 days and was oversubscribed 4 times with option to keep all the money. I expect the allotment to be done in the next 2 days.
No comments:
Post a Comment