Nifty trend is up...5300 key level now

Nifty is on an uptrend...5300 is a key level to watch out for....if Nifty closes above 5300-5320 levels there will be fresh longs initiated from institutional players...so its very interesting how the movement pans out..if we cross 5300 comfortably 5500 is an immediate target on the upside

US-China currency clash

China is resisting America's demands to revalue the yuan. America is threatening to punish China if it does not revalue the yuan. The Senate is trying to pass a legislation that would lead to duties on Chinese products.

Basically If the yuan floats, it is estimated that the U.S. will be able to have a huge growth in exports, which will help boost it's economy, and save millions of jobs.

This would create huge damage to China. America's stock market could shoot up, and China's stock market could crash.

So keep an eye on the debate this week.

Meanwhile the trend in the Nifty is UP...enjoy the ride...

The entire story could be read here:
http://www.cnbc.com/id/36009781

Don't fight the trend...Dow is bullish again!

Dow Theory states: If shares of industrial companies are hitting fresh highs at the same time as shares of the transportation companies that deliver those goods , it signals that the market's upward move is healthy.

The Dow has been a laggard for several months and is one of the last indexes to hit a new high. [The NYSE Composite also hit a new high last week].

The shift to the bull camp — after the Dow Jones industrial average has already climbed 65% from its March 9, 2009, bear market low — occurred this week when the Dow took out its previous bull market high attained on Jan. 19. The new high for the industrials follows a new high notched a week earlier by the Dow Jones transportation average — a key confirmation signal, according to the century-old Dow Theory.

Nifty continues its uptrend...it will be interesting to see how long and how far it continues.

FII vs DII

The graph gives an idea of what the FIIs and DIIs have been doing since the budget.

FII’s have injected nearly Rs 11000 crores into Indian stock markets since Budget day the 26th Feb 2010. However domestic institutional investors (DII) money is going out of the market in the same period of time. Almost 5400 crore have been pumped out by DIIs in the same period.

FII/DII activity is a very key area to keep a watch on.

Nifty continues uptrend

Nifty continues its uptrend. The first obvious level of resistance is 5305-5310 area where it stopped on 6 Jan 2010.

Its been a surprising reversal...we were 4670 on 8 Feb 2010. But then that's what the markets are - surprising. That's why we should always follow the market and not try to force it to go the way we want. because that's not going to happen!

S&P affirms ratings on India; outlook revised to stable

The entire article can be read here:
http://in.reuters.com/article/domesticNews/idINWLB034420100318

Nifty update

Nifty short term trend remains UP...traders can wait for pullbacks to enter...I would wait for a close below 4950 to go short again....

Till then stay long or be wrong!
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