Nifty Update

Overall trend is UP on the Nifty. Charts are bullish

Short term the range is between 5950 and 6100. A move outside this range will decide the next direction of the market for the short term.

FIIs continue to pump in money.

S&P500 Update

The S&P 500 has broken out above 1130 which is a key resistance and has stopped the progress of the S&P500 twice in the past. Short covering by the bears will move the index higher but if this rally has any lasting strength the bulls need to step in with some buying.

The next few days/weeks would be interesting to see how the situation pans out with the S&P500.

Nifty 5900 and beyond

Charts are extremely bullish, it’s a quiet bull market with low volatility. VIX is currently around 18 levels. We continue to remain bullish on the Nifty. Nifty is now rewarding investors for their patience after a long rangebound period. There is no resistance till 6350. FIIs continue to pump in money. Retail has started entering and will do so increasingly as the rally progresses.

Looking forward to Nifty 6350 and higher.

Watch the FII inflow

FIIs have pumped in 7700 cr in June, 8300 cr in July, 7200 cr in August and 7000 cr in Sept till date. We have analysed FII inflows/outflows since the time data is available and the market movements clearly rise and fall along with the FII inflows and outflows. More on this later - but for the time being FIIs are pumping in money in a big way and as long as that trend continues the Nifty is headed in one direction - upwards!

Stay long or be wrong!

Its a bull market...current momentum, breadth is very strong. Retail hasn't participated yet so they will throw in the towel and join now. Very high probability of huge moves in the Nifty now. Enjoy the ride!

Market update

Overall trend is UP. Markets are looking very strong. Charts are bullish.
FIIs continue to pump in money, High probability that we see an explosive move upwards.

Auto, banking, consumer durables, OMC look extremely bullish.
Telecom (Bharti Airtel and Idea) and metals (Hindalco & Jindal Steel & Power) have given fresh buy signals and can be the next potential outperforming sectors.