Nifty : Brexit Gone : Now What : Long
Updated
Fed Hike -- Fed did not changed their stance on rate hike i.e. status quo !! After Brexit it is more likely that there wont be any further news till sept for further rate hikes !!
Brexit -- Is it Good ...Is is bad .... we don't know !! This Event is now gone !! Many are comparing this event to lehman brother 2008 crisis, Acc to us their imports have got little bit cheaper and travelling to Britain got cheaper.
Coming Back to India : GST - Looks set to pass, if it does'nt then we do have a serious problem, Monsoon will be above average as predicted by the Met Depts, thanks to La Nina we might have extended monsoon this year.
Now What about Nifty : Too much of negativity with regards to brexit, many of the technical analyst have turned bearish. Has Nifty breached any major technical level on downside -- No....
Nifty as said earlier has broken its downward sloping channel and has bounced back from it in end of May 16.
We think major Wave 5 is in play -- i.e. wave 3 of wave 3 of major wave 5 !!
Yesterday correction fits into an abc correction of wave 2 of wave 3 !!
Strategy: Let the expiry be over this thursday and see where Nifty ends !! We believe 7935 is now the immediate support which might not be easily broken !! Its Buy the Dips Market !!
Stocks List :
1. AxisBank
2. YesBank
3. HDFCBank
4. TCS
5. Ioc
6. Gati
7. ALBK
8. And Gold
Brexit -- Is it Good ...Is is bad .... we don't know !! This Event is now gone !! Many are comparing this event to lehman brother 2008 crisis, Acc to us their imports have got little bit cheaper and travelling to Britain got cheaper.
Coming Back to India : GST - Looks set to pass, if it does'nt then we do have a serious problem, Monsoon will be above average as predicted by the Met Depts, thanks to La Nina we might have extended monsoon this year.
Now What about Nifty : Too much of negativity with regards to brexit, many of the technical analyst have turned bearish. Has Nifty breached any major technical level on downside -- No....
Nifty as said earlier has broken its downward sloping channel and has bounced back from it in end of May 16.
We think major Wave 5 is in play -- i.e. wave 3 of wave 3 of major wave 5 !!
Yesterday correction fits into an abc correction of wave 2 of wave 3 !!
Strategy: Let the expiry be over this thursday and see where Nifty ends !! We believe 7935 is now the immediate support which might not be easily broken !! Its Buy the Dips Market !!
Stocks List :
1. AxisBank
2. YesBank
3. HDFCBank
4. TCS
5. Ioc
6. Gati
7. ALBK
8. And Gold
Trade active
So finally Nifty is showing signs of selloff !! It is bound to happen and good for the markets. Let's wait for Nifty to settle down a little lower before it again aims for life high !!
Wave 3-4 might be in play - abc correction !! MACD & RSI both overbought clear signs of selloff happening at upper levels !! GST ahead on Wednesday so it's impact might be on thursday !! It's Wait & Watch before another long call !!
Expecting this correction to end faster may be within this week or by next tuesday !!
Target 1 - 8480
Target 2 - 8400
In Stock's List :- Moving out from all except
1. TCS
2. Gold
3. PTC India Fin Services ( PFS ) - Added Today
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