The correction in the Indian markets this month has been very swift and has defied anyone's imagination. With spot Nifty closing below 4750, a major support level, the future looks very bad at least for the short term. (Check my last post written on 9 Nov 11). This is the first time Nifty PE is within kissing distance of 16 (currently @ 17.04 at today's Nifty close of 4706). This level of Nifty PE is where the panic begins in the minds of the investors and most will lose any hope of recovery. The retail investors are the worst hit and will soon start dumping everything, if not already done! Now the financial papers and channels will talk about why the markets are selling out and how its time to stay away. This same thing happens every time the markets correct.
But according to me, the time to BUY shall soon come. ( I shall inform you when to start buying). That's the silver lining, provided you have the belief and the confidence.
For the short term however, the markets remain south bound with much lowers now possible. Expect Nifty to show levels of 4640/4570/4500/lower in the immediate short term.
On the upside, Nifty faces resistance at 4850/4890/4920. For any serious upside Nifty must close above 5000. The chances of this happening look extremely slim.
Every rise in the Index must be used to open short positions. No long positions are recommended for now.
Tomorrow, Nov Nifty will expire. I think, Nifty shall show lowest levels of this year after this expiry.
I shall soon be revealing a major money making secret in this market. It is an experiment I have done with my own money with astounding result. Just keep watching this space for it.
But according to me, the time to BUY shall soon come. ( I shall inform you when to start buying). That's the silver lining, provided you have the belief and the confidence.
For the short term however, the markets remain south bound with much lowers now possible. Expect Nifty to show levels of 4640/4570/4500/lower in the immediate short term.
On the upside, Nifty faces resistance at 4850/4890/4920. For any serious upside Nifty must close above 5000. The chances of this happening look extremely slim.
Every rise in the Index must be used to open short positions. No long positions are recommended for now.
Tomorrow, Nov Nifty will expire. I think, Nifty shall show lowest levels of this year after this expiry.
I shall soon be revealing a major money making secret in this market. It is an experiment I have done with my own money with astounding result. Just keep watching this space for it.
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