The markets continue their negative bias as the FIIs continued to sell. Thsi week there may be a short technical bounce due to expiry.
1. The markets have a strong support at 8000 which has been tested once. Such supports give way at the third or fourth test of it.
2. The big event of December would be Fed rate hike in US and that may coincide with the bottom formation process.
3. The rise from 6825 to 8967 took 6.5 months so it would be reasonable to expect the correction to consume 3 to 4 month. The top was om 7th of September.
4. In December 2011, there was an important bottom formation in December.
5. The Demonetization ruckus will die in about a months time and the Banking sector would be a major winner.
6. 82580-8350 are the immediate resistances and the supports are at 7950-8000.
7600-8000 will be a major buy zone for the markets for a final burst towards 10000-11000 Nifty which will define the first term of Modi in office.
1. The markets have a strong support at 8000 which has been tested once. Such supports give way at the third or fourth test of it.
2. The big event of December would be Fed rate hike in US and that may coincide with the bottom formation process.
3. The rise from 6825 to 8967 took 6.5 months so it would be reasonable to expect the correction to consume 3 to 4 month. The top was om 7th of September.
4. In December 2011, there was an important bottom formation in December.
5. The Demonetization ruckus will die in about a months time and the Banking sector would be a major winner.
6. 82580-8350 are the immediate resistances and the supports are at 7950-8000.
7600-8000 will be a major buy zone for the markets for a final burst towards 10000-11000 Nifty which will define the first term of Modi in office.
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