NIFTY - Some-Tim-thing Cook-ing!

Should have been a boring day or a range day after the huge yoyo moves. Not to be as the marked opened with dither either way moves. Comes a flash Govt considering increasing to tax the rich to bridge the rich poor gap. It is assumed that this news and this news alone reason to bring the moves below 17600 briefly and recovered as the denial's surfaced. Rich poor divide is nothing new, in fact this divide is more in developing countries than anywhere else. The COVID only made things worse. What is new, is that the Monetary room to influence the economy is limited. The fiscal space is burdened with fear of inflation. Currency wars notwithstanding. Mere statements of taxing the rich, can win the voters and the larger public, can test the pulse of the market, an attempt by the rulers all over the world to ensure their power is protected. It is not the end of this news, similar or close one's will keep coming cooked and served. There are many places with green shoots, many spaces with increased RED tones. Thus, the market will focus what they need to do and not to do. It is better to order what we like than to focus on what is being cooked. Nifty Asia cues negative, US YOYO, Net Flix flat to deeper moves. Dollar trying to find the base. 17580-17780 is the new range. A close above 730 brings hopes for incremental up moves, close below 17580 doubts surface. Still bulls hold the edge. For the day 17600-17730 range.