Individual stocks will continue to give better returns than Nifty.
Work harder to find them and stay with them.
Once the uptrend is over, book out promptly.
This is not showing a secular nature. Cement have been down for a while. IT may join them soon. Banks continue to show strength and at their uptrend highs.
Looking at the Stocks' performance and FII buying, I have given below a most bullish possibility.
Below is a moderately bullish view keeping all the above factors. Be flexible to adjust your targets as the market unfolds and new information pours in.
Daily TA is firm thus far. It will capture the weakness, if any.
26 comments:
FIIs were short today. Here are some details -
http://safegamble.blogspot.com/2010/07/nifty-fii-investment-in-index-futures.html
GD,
On the other hand, FII continue their sudden huge buying spree for the 4th session by buying Rs.784.68 Cr in cash today.
@Fire,
I heard from a friend of mine that those could be bogus numbers. And SEBI website has the right numbers as they include BSE+NSE. I will update tomorrow.
@FIRE,
SEBI website data is off by a day. So when they say ( 13-July, it is for 12-July trading ). They will update tomorrow for today's FII data. Here is the link -
http://www.sebi.gov.in/Index.jsp?contentDisp=FIITrends
Choose "FII Equity / Debt [Archive]" and the default date.
@FIRE,
Cash market can be for mutual funds. Derivatives data shows a different picture.
Looks like Nifty can hit 5500 tomorrow itself (reflecting the strong gains in the US markets).
GD,
I checked here --- http://www.nseindia.com/content/equities/eq_fii_nsebse.htm
i am confused abt fast rise and fall in NF.
is it the crossing the 10 EMA?
pls guide us
www.myniftycalls.com
@FIRE,
I could be all wrong on this. Just another angle.
This article supports the Most Bullish Scenario of Ilangoji very well along with the FII figures. Somewhere I had read that the 3rd wave goes on Institutional money and the 5th on Retail participation. Perhaps the FII data is indicating just that! Now Ilangoji would be requested to tell us how to trade keeping this scenario in mind.
"Individual stocks will continue to give better returns than Nifty" -- Or should I just ride RIL for this move?
@FIRE,
Got a ventura call on RIL for 1140 target today.
I forgot to mention the very article itself :)
Here it is -- http://theartofcontrariantrading.blogspot.com/2010/07/small-investors-flee-stocks.html
@GD,
It happens to the best of us. And all of us are trying look at the market just like a prism, from various angles, various perspectives. As Ilangoji reminds us -- "Be flexible to adjust your targets [view/outlook] as the market unfolds and new information pours in." Bracket is mine.
We are and ever will be students. We are lucky to get a selfless teacher and guide here. I had read that the fabled sage Naropa had to wait for ages to get a Tilopa, Marpa to get a Naropa and even the most wellknown Milarepa to get a Marpa.
So, let's be thankful to this Universe and let's learn in this amazing Gurukul!
@Myniftycalls,
As far as I have understood from Ilangoji, a fast rise setup gets created when the shorter MA/EMAs get close to the longer term MA/EMAs and then go away again. The reverse happens for the fast fall. It is somewhat similar to Bullish and Bearish Failure seen in the Stochastics. Any mistake on my part can be rectified by Ilangoji.
@GD,
You are running the risk of getting me fall in love with you. What sweet words -- RIL 1140!!! I am already heavily in RIL since today and intend to add more above 1090-95. Keep it up brother!
@Bhavesh,
Please don't give me a heart attack! :(
It is S&P 1300 he is talking about, not Dow Jones. He is talking about a 20% upside. Go figure for Dow Jones and Nifty. :)
@Bhavesh,
On a serious note, it is not his personal comments I am interested about. I am much more interested about the fact - " It shows the results of the weekly investors survey conducted by the American Association of Individual Investors. The latest reading shows the greatest percentage of bearish opinions since the March 2009 low.
These data show that the actions and expectations of small investors are in sync to the bearish side. The extent of bearishness is comparable to that seen at the March 2009 low point."
And remember that the Indian market is showing much more resilience compared to the US market.
@Bhavesh,
For Nifty target, check the second chart given above in this EOD post. That chart by Ilangoji has started all these delightful discussion! (Aren't we greedy?) :)
@all,
You can check this link too -- http://caldaroew.spaces.live.com/blog/cns!D2CB8C5EBA2ADE86!81148.entry
@Bhavesh,
Right according to my small experience. When has the retail public (including the author of this comment) been right ever?
the way US market is trading, tomorrow morning we have a HUGE GAPE UP opening of at-least 50 points - what do u say? btw, any good stock futures for tomorrow's intraday's trading? I am long on Ranbaxi and TCS...
@Janak,
Tatasteel looks good if sustains above today's high . Small banks are looking attractive to me, especially Dena Bank. And for the last few weeks,I keep checking IFCI longingly. A strong closing above 60.5, and I go boom!
In the upcoming trading sessions we might see some more upside in it & one should focus on buy on every decline in it. The short term support for nifty future seems to be around the levels of 5290 to 5300.
Regards,
Nifty Trend
Nifty made an upside breakout today and made the closing above 5400. The up trend in Nifty Future may continue and the next key resistance seems to be around the higher level of 5500. In the upcoming trading sessions we might see some more upside movement in it and one should focus on buy on every decline in it. The short term support for Nifty Future is seems to be around the levels of 5290 to 5300.
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