Pre Open Thoughts: Ride the Wave!!!
Ø In this world it is not what we take up, but what we give up, that makes us rich. Trend following is motivated by a very broad interpretation of the universe. The underlying belief is that economic systems adjust to changes in fundamentals gradually and over long periods of time, and that the consequent trends are evident everywhere in human history and commerce.
Ø Markets have a mind of their own and tend to move on sentiment, which, for the moment is positive. So just ride the wave as long as it lasts.
Ø SGX Nifty in Singapore is pointing to a slightly flat to negative opening. Wall Street and European stocks rose modestly. Asian markets are though trading negative. All Eyes will be on IIP today which is likely to be around 3.5%, and also people will be keenly waiting for the three key events to look up for which will be the Union Budget, Rail Budget and the State Poll Election results.
Ø Nifty Futures covered more than one-third of the ground lost since the peak of July, backed by strong FII inflows pouring nearly $3.6 billion in local equities so far this year.
Ø On Nifty After closing above 5400 are we heading towards 5600? Can this rally really sustain? Are the questions need to be answered.
Ø According to my systems we could see some more upside between 5500-5600 and strong support is at 5300.
Results Today: Apollo Hospitals, Aurobindo Pharma, BPCL, Britannia, DLF, Eros, Gammon Infra, GE Shipping, Hathway, Hotel Leela, IDFC, JSW Steel, Lovable Lingerie, MMTC, MTNL, Neyveli Lignite, Pantaloon, Pipavav Defence, Reliance Capital, RCOM, Shriram Transport, Sun TV, Tata Chemicals and Tata Power.
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