Just a little bit more.

I will be on Bloomberg-Utv on Thursday morning at 9 A.M , and Friday afternoon at 3 P.M.
The Nifty needs about 125 points to touch its highest ever levels. That’s not much, just a little bit more from today’s close at 6233.9.
Indian & World Markets, Nifty, Sectors & mid cap stocks of interest – these are topics that the anchors will generally talk about. If you have any ideas on other topics that I can or should discuss on TV, do leave a comment.

Waiting for Infosys

As results season kicks off, markets do not seem to be unduly perturbed. Rather disappointing IIP numbers caused only a mild flutter in the market. In the USA, a weak unemployment report on Friday caused the market to move up – because bad news for the economy means more money printing, which means more money coming in the market, which means higher stock prices! Strange are the ways of the market, but that’s the way it works.

Infosys reports on Friday, Oct 15. A bull market ignores all bad news. Therefore, short term traders should use any sudden dip as a buying opportunity. My own levels, which I had given on Bloomberg-Utv, were support on a closing basis at 6080 and resistance (also on a closing basis) at 6190. Between these two points, the Nifty is reallly in a narrow trading range.

Narrow trading ranges will eventually breakout, one way or the other. You just need to go with the direction of the breakout.