ECONOMIC SURVEY AND THE RAIL BUDGET INVITE JEERS FROM BULLS AND CHEERS FROM BEARS
Traders love tasty gourmets even at the cost of health. A margosa which promotes health with time is a strict NO- NO!!! Perhaps the Central Governance in the past has forced us to applaud short term solutions to long term problems thereby cesspooling us into the gorge right at the rocky bottom.
The knee jerk reaction shows the lack of patience and poor understanding of the ground reality. The lack of depth in the markets at higher levels is also alarming. Vertical moves southwards with such velocity can never be flavoured with rationality. The “herd mentality” is back and we now stand in the mind field of mayhem. The goodies have been discounted and the budget unless it is truly exceptional in oratory skills along with the curative powers – Nifty is set to kiss 7370-7230. As we had been mentioning “Nifty is likely to maintain its momentum which can take it to 7838-7877-7920 on or before the 13th July. We have already seen Nifty hit 7808.85. However, If the sanctity of 7367-7230 is maintained then the rally may be extended up to 21st July and 7838-7920-8065-8283 are possible.
Going forward the band of 7570-7612-7633-7651-7683.15-7700-7748-7782-7808-7838-7920-7998-8063-8123-8253 are the resistances and 7551-7507-7482-7464-7442-7394-7367-7230 is a good cluster of supports”.
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