|
Market Outlook:
Thursday, July 29, 2010
Nifty had broken 5400 spot yesterday but today it was able to close above the psychological barrier of 5400 spot. On the other hand, Sensex is not able to sustain 18000-18200 levels as mentioned in earlier reports. We continue to reiterate our previous opinions of shorting the main market index – Nifty on each rise since the upside looks limited. It is to be noted that one-two bounce from 5400 spot is likely to come.
We repeat the following as earlier:
It is to be noted that liquidity on the buying side has lessened in last few days while selling side interests have started to appear in the market at slow pace.
In the coming days, market is likely to see further downside from current levels of 5400 spot in Nifty. Traders can short on each rise in such market. Still, we are not seeing any weakness in the market but there is also no strength in the buying side. Therefore, the battle may remain edgy with a slight bias for short-sellers.
To access “Daily Market Report” click here:
To access “Weekly Market Report” click here:
Check our ‘Forecasts’ section.
For profitable trading tips, F&O tips, NSE tips, Commodities Tips, contact us on 09428293139 or 079-40036756.
To know, what will happen in the market for short-term and long-term, send a mail to info@dhavalpvyas.com
Disclaimer: Tips or recommendations or opinions or projections or views or anything written in www.dhavalpvyas.com does not form the basis of any contract and Dhaval P Vyas Investment Research (DPV Investment Research) or its owner or its employees or its affiliates accepts no responsibility or liability for losses or damages incurred as a result of opinions formed, decisions made and positions taken - based on information or view presented. Past performance of the opinions expressed here, may or may not be sustained in future. The recommendations or tips presented in this site are based on the science of Technical Analysis and are not news-based or fundamental-based opinions or views. There can be a substantial loss in trading. This is not an offer to buy or sell the securities or index referred therein. Dhaval P Vyas Investment Research or its owner or its employees or its clients or its affiliates may have positions in the stocks discussed or recommended in this site. |