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• Raghav’s Picks: Weekly Technical Outlook for the BSE Sensex and NSE Nifty – 29-07-2007

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  Raghvendra Narendra Dhoot    Group moderator

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  Raghav’s Picks: Weekly Technical Outlook for the BSE Sensex and NSE Nifty – 29-07-2007

  BSE Sensex – Reuters – .BSESN
  NSE Nifty – Reuters Symbol – .NSEI
  
  While nothing has changed fundamentally over the last 2 days to indicate that the BULL RUN is coming to an end, the immediate turn outlook has turned negative.
  
  Friday’s fall in the US markets is an immediate negative whereas the corporate Q2 results declared on Saturday could provide some solace to the markets.
  
  I expect the Sensex to consolidate between 15000 and the current levels, with a negative bias before moving upwards once again.
  
  Friday’s fall underlines the impact of global financial events, incidents and accidents both. This was indicated in this column 2 weeks ago.
  
  As of now, it is pretty apparent that the long term Bull Run is still on we are on track to see 18000 in less than 12 months from now. This is of course subject to a benign inflation rate and continued GDP growth. The long term Bull Run would come to an end only with a close below 13810 on the Sensex. The medium term trend would turn negative only below 14700.
  
  Small, leveraged or short term investors are better off, staying away from the markets, till they stabilize.
  
  Medium to long term investors can hold on to their quality portfolios with selective buying on dips as along as the Sensex is above 14700.
  
  For detailed market analysis, investment, trading calls and, advisory services with respect to investing in Indian Markets, please mail me on rnd24566@gmail.com or use the personal message link: http://www.xing.com/go/privatemessage/RaghvendraNarendra_Dho...
  
  • 29 Jul 2007, 10:16 am
  Raghvendra Narendra Dhoot wrote: > BSE Sensex – Reuters – .BSESN > NSE Nifty – Reuters Symbol – .NSEI > > While nothing has changed fundamentally over the last 2 days to > indicate that the BULL RUN is coming to an end, the immediate turn > outlook has turned negative. > > Friday’s fall in the US markets is an immediate negative whereas the > corporate Q2 results declared on Saturday could provide some solace > to the markets. > > I expect the Sensex to consolidate between 15000 and the current > levels, with a negative bias before moving upwards once again. > > Friday’s fall underlines the impact of global financial events, > incidents and accidents both. This was indicated in this column 2 > weeks ago. > > As of now, it is pretty apparent that the long term Bull Run is still > on we are on track to see 18000 in less than 12 months from now. This > is of course subject to a benign inflation rate and continued GDP > growth. The long term Bull Run would come to an end only with a close > below 13810 on the Sensex. The medium term trend would turn negative > only below 14700. > > Small, leveraged or short term investors are better off, staying away > from the markets, till they stabilize. > > Medium to long term investors can hold on to their quality portfolios > with selective buying on dips as along as the Sensex is above 14700. > > For detailed market analysis, investment, trading calls and, advisory > services with respect to investing in Indian Markets, please mail me > on rnd24566@gmail.com or use the personal message link: > http://www.xing.com/go/privatemessage/RaghvendraNarendra_Dhoot