what will markets do now?

What will Market do Now?Jan 14 2013

Deepak Singhwww.stateofthemarket.net

I don’t know

• Market is on a Bullish Journey and nobody knows what to do when market corrects

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The Big Joke on Friday

Nifty was down just 17 points

Nifty intra-day action does not reflect the true damage market got on Friday. Thanks to Infosys

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The Action Spot

Bank Nifty

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Bank Nifty: More correction??

Can it drive more correction in Nifty? The 50 dma support is 5% down from current levels…..

Chart Source: Chartalert.com

Liquidity continues to be favorable

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FII buying aggressively

MF selling continues….

Summary

• Market is in Uptrend……It means traders will look to Buy on declines

• Bank Nifty has major influence on Nifty and it can drive correction in Nifty some more.

• Expect unwinding of enthusiasm in momentum and speculative names…minor panic probable...if correction persists

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BULLISH STRUCTURE OF THE MARKET IS INTACT

The job of market is to make majority of traders nervous most of the time

Have a Good Trading day

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Thank You

• Disclaimer - The state of the market presentation is Deepak's perspective on the market. The presentation is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this presentation you agree to make no trade relying in whole or in part on the comments of the writers