MARKET Overview

Lenin’s quote, ‘There are decades where nothing happens, and then weeks where decades happen’ – is a great description for the past few weeks. Especially since he’s Russian. The way markets have moved in last 3 weeks signifies this statement. The pullback which started yesterday has still continued. For us this is still a pullback which has extended further. But frankly this has gone above our expectations. But in markets you have to be prepared for such things. Yesterday we added APRIL puts at 16,360 and we added that further after todays opening. So we have taken significant positions based on our view and pattern studies. Confidence, conviction, temprament and patience all 4 things are required to trade such market. We had and we still have a bearish outlook in markets. 15,500 is still a pending target on downside. Bare markets does have sharp rallies. And we just witnessed 1 such rally. MARKETS around the world has given a TIME PATTERN breakdown in February. For NIFTY that pattern Target is 14,400 on spot. Just imagine. You may call me a crazy analyst. But the TIME setup has suggested us this Target in coming quarters. For near term we are working with 15,500 as a Target. Feel free to save this post. We shall remind this post again when NIFTY tests 15,500.