Nifty has made a decent bounce from lows of 8300 to now above 8700 but the character of market this time has been different. It's not the banks that's driving the market up but big stocks like Reliance and Bharti.
Here's how Reliance has bounced from lows
Reliance has bounced from lows but it looks like just a trading bounce which can take stock upto 940 but the move is not going to change the trend of stock which continues to be sell on rally/Avoid.
The other stock that has surprised the market with bounce: Bharti
I did cover the stock when it was at lower end of the range. Having said - I am surprised with the intensity of the bounce.
Here’s a small 10 minute presentation that outlines what happened on April 08 2015 and what kind of opportunity it throws up for future. It is for Premium subscribers
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers