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NIFTY ALL TIME HIGH

Nifty all time high

 By Andrews Joseph

  1. Nifty has opened with a big gapup today of more than 70 points breaking all the resistance level and Infact no resistance level as of now. Opened with all time high and closed with all time high.
  2. Last time the rally was led by few stocks and sector but this time the rally was even across all sectors except IT stocks, which I have mentioned in my previous blog that IT stocks are slightly over valued.
  3. Important sectors which is noticed to be banking sectors which has made a surprise rally despite of growing NPA concerns, next quarterly result will be crucial as to see which bank has taken measures to curb the NPA ,as per my previous blog you can notice that I have mentioned that banknifty will help nifty to cross All time high. And bank nifty is trading at resistance zone.
  4. Midcap and small cap stocks has start to perform especially midcap stocks, which will be a sign of relief for retailers those who have invested in midcap stocks and their portfolio would be in red few days, Now slowly it may turn in to green.
  5. World indices American markets such as S&P 500 , Nasdaq and Dow all were trading in ALL TIME HIGH , European indices ended in positive and all Asian markets ended in positive note except China A50.
  6. Important events Indian Auto sales data this month and GDP data will be released on 31st August thisweek which will keenly watched for economic drive.
  7. On the global important events will be US inflation data on 14th September and fed interest rate decision on 22nd september 2021.
  8. Silver and Gold were trading flat and crpto bitcoin trading positive and bounced back sharply from last month low.
  9. The important meet of US jackson hole meet which was held last week. Boosted the equity market , as they have not announced about Fed Tapering immediately and still on the table. And hinted that fed will maintain its monetary policy,if required they may start taper based on the above event which I have mentioned on point number 7.
  10. On the whole the Indian markets are likely to go up and may hit fresh ALL TIME HIGH of 17000 and may trade in a range between 16800 to 17150 as we can see both fii and dii data suggest that buying is more . And keep your position sizing accordingly and trade with strict stop loss.

NOTE:

I'm not trying to predict the market because market will go on its own way. There is a saying "Expect the unexpected".


OBSERVATION:

Last week we had jackson hole which is disappointing for dollar and after a long time indian rupee has strength.

And also S&P 500 US indices is trading with low volume.



Quote for the day


"Arise, awake, and stop until the goal is reached" 

- Swami Vivekananda



Thank you


Disclaimer: The above content is only for training and educational purpose. Views may differ from one person to other person. I dont recommend anyone to trade based on the above information. Trading and investment involves huge risk. Please consult your financial advisor.

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