The Rally Of The Markets Continue

by khalid on 09/09/2011 · 0 comments

Today’s market session was a steady and range bound in the early trade. The spike up during the latter hours helped the Nifty to close at 5150 mark and the Sensex closed at100 point’s at 17,165. The Nifty and the Sensex rally were long overdue and at the moment it really had a good play out session.

This rally has been from the past seven trading session and it could last for another 3 weeks or so. The nifty may surpass 5350 levels but in order to attain those levels it must cross the resistance level of 5175-5225 levels. However, the upside may be capped between 5250-5300. Investors need to be cautious in the market and should sell on rise.

Experts are of the opinion that the market has the potential to touch 5200 – 5330 range and they should exit there portfolio as this rally may not last long. The trend of the Indian market is that of a bear market so it may see dips though in the short term we may see more upside. This upside may not last long as the global clues are weak. There is upside in the Indian markets in the long run next 12 months – 24 months period.

Presently all eyes lies on President Barack Obama speech about job creation. Also there has been reports that a proposal of USD 300 billion package to be announced and this will include tax cuts and rate cuts The market players will closely monitor the rate decision of European Central Bank.

“Bell the bull says: Investors should be cautious while investing in the market as the rally may not take Nifty beyond 5300.”

Related Posts Plugin for WordPress, Blogger...

Leave a Comment

Previous post:

Next post: