I hv not bet on market falling. I do not have any bearish positions. In fact, I opened bullish positions of 5 Nifty lots on Thursday. So, its not like market is going up and I am bearish.... that would put me out of business in a fortnight.
Yet, I seek bearish levels because I want to be mentally prepared for buying stocks. And this takes time. Thats it, for the sake of preparedness.
But, generally speaking, I am bearish on the higher timeframe because I do not see any positive trigger on the horizon; and it is badly needed to sustain these levels. But, there are plenty of negative triggers. Most sectors are showing reduced EPSs, while others struggle to maintain status quo. Plus, BJP has never been pro-Indices. They tend to tame inflation. And finally,
Do you not find it fishy that markets had to touch all time highs right in the middle of elections, when it had all year to do it?
I feel this rally is rigged BIGTIME. Play along, and imagine if Nifty were sub-4500 levels during elections. Wouldn't that totally worsen the chances of Congress (well, of whatever little it had). May be that is why they have to prop it up via FIIs.
Yes, I agree with you when you say charts are bullish. But, it takes a week to change a monthly breakout bar into a inverted hammer. And if that happens, its going to be bad.
Yet, I seek bearish levels because I want to be mentally prepared for buying stocks. And this takes time. Thats it, for the sake of preparedness.
But, generally speaking, I am bearish on the higher timeframe because I do not see any positive trigger on the horizon; and it is badly needed to sustain these levels. But, there are plenty of negative triggers. Most sectors are showing reduced EPSs, while others struggle to maintain status quo. Plus, BJP has never been pro-Indices. They tend to tame inflation. And finally,
Do you not find it fishy that markets had to touch all time highs right in the middle of elections, when it had all year to do it?
I feel this rally is rigged BIGTIME. Play along, and imagine if Nifty were sub-4500 levels during elections. Wouldn't that totally worsen the chances of Congress (well, of whatever little it had). May be that is why they have to prop it up via FIIs.
Yes, I agree with you when you say charts are bullish. But, it takes a week to change a monthly breakout bar into a inverted hammer. And if that happens, its going to be bad.