The markets crafted in a spiral pattern and as intimated in past several posts that if 16800 on nifty and 36800 on bank nifty is violated, it will open gates for 16200 and 35000 respectively
Exactly the same happened and markets moved in a free fall mode along with global markets and the required healthy correction arrived which was in waiting after a pumped up markets in last few several months
Technically the markets may dip little more before finding supports and will stay volatile as usual, with nifty finding supports at 16000 and 15800 levels along with bank nifty finding supports at 35000-34600 which also remains as our psychological levels mentioned earlier
We have also mentioned that the wrath will be felt in stocks and options will provide golden opportunity after 9th february and the accumulated shorts and puts are in manifold gains for the february expiry
The global scenario will settle in few days and sessions and domestic events will take over in March with local political events and occurences with a major ipo of Lic ahead
With the rising crude prices, there can be increase in local oil, petroleum and diesel prices which can spike in an already risen inflation
Time is ripe for adding good value, fundamentally strong and high rsi stocks in sip mode for good returns in coming days and months
Though many sectors are now offering good value, sectors like realty, commodities, metals, aluminum, IT ,nbfcs may see good rebound in coming days
Commodities will remain to rise in crisis time, however is moving towards resistance zones and may witness sudden profit booking in energy, bullions and base metals
Our pre informed nifty moves towards 16200 and bank nifty towards 35000
Bank nifty and nifty pe does the requisite
All stocks crashes with puts hitting sky, so does Tata motors pe and indus towers
