January 2013
My Weekly take .....
Trading levels --- 14th / 18th January 2012
Last week I had written that in spite of popular expectation, the possibility of further up-move is muted. That turned out to be absolutely prophetic. Infosys hugely cheered the markets today – 17 % up-move - but the markets ended lower for the day as well as the week.
I talked of sector rotation also. This week it has been It and energy and FMCG and Metals have crumbled.
Does this indicate distribution ? I think it does and we must be cautious and protect our gains whichever way possible.
It will be interesting to see Fridays FII figures when Infosys had a big cheer and old favorites ITC and HUL had a big down day. If FII inflows start turning negative, we will be pushed to 5800 levels in double quick time – next week – not withstanding bullish outlook of CNX IT index.
Monday’s session is crucial and if we close below 5936, then 5891 / 5838 become visible.
After 20th January, we may have shadows of BUDGET on the market as some tits-bits of information will start flowing from Finance department.
ALL THIS IS PREDICATED ON STRONG FII FLOWS FOR NEXT TWO WEEKS ATLEAST.
My monthly trading levels are out and paid members have them. At 3,000 rupees a year, they provide tremendous value for money proposition.