OI in Nifty futures still hovering around the 21 million mark although the falls as well as the rise from the ashes have been meteoric; 5032 survived on closing basis on expected lines [but still some caution advised till 5225 is not taken out as the intraday breach to sub 5k levels keeps the possibility of backtesting 5032 again and possibly 4944 also alive; 61.8% retracement of the rise from 4531 to 5629 comes to 4950 whilst 50% comes @ 5080 and that was convincingly breached; above 5225, indicates that down move is over and until then the other option is still alive :D]
BNF fell more than expected but was great to see the short covering round from the lows of the day; is it out of the woods???? Not yet
Will update 2 charts later tonight with today's Nifty and BankNifty EOD charts
Do watch out Guruji's shopping cart for investments based on deliveries; [as most readers are aware, I prefer to go slow and steady with 60%-70% allocation to NiftyBees, BankBees, InfraBees as far as investments are concerned; for the balance, my list is very simple with LnT, Dabur, Cipla, Biocon, Ashok Leyland, JP Associates; just added some units of IRB infra since the falls below 150 with a 2-3 year target of 225+] Raghuji and Wave Rider are far more experienced as far as picking individual stocks are concerned.
Update with Charts
Nifty EOD Chart
BankNifty EOD Chart
BNF fell more than expected but was great to see the short covering round from the lows of the day; is it out of the woods???? Not yet
Will update 2 charts later tonight with today's Nifty and BankNifty EOD charts
Do watch out Guruji's shopping cart for investments based on deliveries; [as most readers are aware, I prefer to go slow and steady with 60%-70% allocation to NiftyBees, BankBees, InfraBees as far as investments are concerned; for the balance, my list is very simple with LnT, Dabur, Cipla, Biocon, Ashok Leyland, JP Associates; just added some units of IRB infra since the falls below 150 with a 2-3 year target of 225+] Raghuji and Wave Rider are far more experienced as far as picking individual stocks are concerned.
Update with Charts
Nifty EOD Chart
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