NDPMS Wealth Management

Nifty at the moment is little shy of a major resistance zone of 8500 - 8550 levels . Nifty closed at 8485 levels this week with a strong positive momentum which reflected in the later half of Friday's trade. Today's closing levels mark third successive week of a higher closing. However the important factor which shall never be ignored about the week's rally is volumes. The volumes this week in Nifty has been relatively the lowest in recent times. You may attribute such low volumes to the fears concerning the recent global crisis situation. As stated in my previous post, such situations acts as a perfect triggers for technical entries as they do not effect the fundamentals much.  If at all I am looking to buy in such a market, is because of the momentum which of course is not so backed by the volumes. So the action in near term future has to be stock specific rather than being more generic about the over all market conditions. I am expecting stocks like TCS, SunPharma, G...

Before coming to the answer you are looking forward to let me explain you the current short term Nifty analysis. This is what I regularly do on this blog. The stage is set for a perfect fight between the bulls and the bears. Nifty for the past 3 weeks has shown a robust and strong rally. Global crises have also been taken good care by the Indian benchmark. The fear of a negative Greek impact reflected in a recent sell out during the initial Monday trade this week, however soon the news was discounted for and markets again started following the trended path.I somehow feel that the Greek impact has too little to effect our fundamentals and would not matter much except that it may act as a trigger for Nifty to initiate a minor wave to the downside, At current juncture, Nifty faces a stiff resistance, at 8580 levels which also embarks 61.2% retrenchment  levels of its previous corrective phase .  It is assumed that Nifty is currently forming a complex wave pattern which...