Bull's Eye!!!! (Though markets were bearish :P) My target on NIFTY 5200 achived...call given around 5600 levels. :) NIFTY closed down 120 points at 5211 on EU Debt crisis fear. US economy is also feared to
have double debt crisis ahead which is making investors fear all over the global. Yesterday Denmark government refused to rescue its bank from debt crisis which is amounted to $35 billion. All the EU
countries are under threat while US is expecting a recession ahead. All the analysts and politician where saying that Indian markets are strong and dont fear and panic....But what do you think??? is our
equity market really strong?? NOOOO.....what good reason do we have to make our investors smile?? All the sectors as i have been mentioning are having one or the other scam or companies involved in scam. Talking about demand of products then it has seen a way negative change because of increasing interest rates. All the indian companies are under utilizing its production capacity whether it be steel
sector, auto sector or FMCG sector. This bubble is bigger then what we are thinking. May be i feel this is the result of US printing dollars as and when required which has increased the dollar supply to each
countries who has been trading with US. Now on the fear of US crisis all the countries specially china who hold the largest chunk of US and Europe treasury bills, are buying gold instead of US dollars and
Bills. This is why gold has seen rise in-spite of other commodities degrading. Talking about crude it has seen a large fall in demand specially over US and europe which is resultant of its current price. This is what i have got in my mind but people do share if you think I need to correct..Do share some more view and news if you get. Technically speaking market has created a gap today on opening. It has to be filled for sure but before that it may show some down side. All the indicators on daily and weekly chart has been breached and showing bearish movement ahead.
have double debt crisis ahead which is making investors fear all over the global. Yesterday Denmark government refused to rescue its bank from debt crisis which is amounted to $35 billion. All the EU
countries are under threat while US is expecting a recession ahead. All the analysts and politician where saying that Indian markets are strong and dont fear and panic....But what do you think??? is our
equity market really strong?? NOOOO.....what good reason do we have to make our investors smile?? All the sectors as i have been mentioning are having one or the other scam or companies involved in scam. Talking about demand of products then it has seen a way negative change because of increasing interest rates. All the indian companies are under utilizing its production capacity whether it be steel
sector, auto sector or FMCG sector. This bubble is bigger then what we are thinking. May be i feel this is the result of US printing dollars as and when required which has increased the dollar supply to each
countries who has been trading with US. Now on the fear of US crisis all the countries specially china who hold the largest chunk of US and Europe treasury bills, are buying gold instead of US dollars and
Bills. This is why gold has seen rise in-spite of other commodities degrading. Talking about crude it has seen a large fall in demand specially over US and europe which is resultant of its current price. This is what i have got in my mind but people do share if you think I need to correct..Do share some more view and news if you get. Technically speaking market has created a gap today on opening. It has to be filled for sure but before that it may show some down side. All the indicators on daily and weekly chart has been breached and showing bearish movement ahead.
NIFTY levels for 8th August:-
R-5280 S-5190
R-5331 S-5145
R-5382 S-5100
R-5416 S-4900
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