Nifty - On the verge of breakout!
Closing above 8460, Nifty will race towards 8600. Breakout seems imminent in a day or two as Nifty gave a very shallow correction till 8330 and didn't even make double bottom there. Go long only above 8460 or any dip towards 8350-70.
Dollar index falling below 100 augurs well for EM equities. Early signs of long positions by FII's.
Dollar index falling below 100 augurs well for EM equities. Early signs of long positions by FII's.
Note
As expected, Nifty has broken out with tremendous force 8510 - 8600 likely. I wrote this when Nifty was at 8430. Enjoy the profits. Carry long positions home.Note
Nifty will gap up tomorrow.Note
Booked partial profits at 8510. This 8500-8600 is a heavy supply zone for large players. This is a strong hurdle which might not get crossed atleast till budget. Lots of volatility might happen in this zone.
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