What Does Charts Tell You? Correction or Breakout
If we look at the above Nifty chart for last one year we see a clear and definite pattern. Nifty after the gap of 3 months corrects 7-8%. The dips were on
- Nov 3, 2009
- Feb 15, 2010
- May 25, 2010
So now my question is
Loading ...I myself do see a correction and so August will be the month when I offload my portfolio and remain cash heavy (close to 50% in cash).
You do not need to agree on my views because when I discussed the same with my friend he totally disagreed and has contrasting views on the above chart. He told me that this time as we are more in a tight range for last 6 months and there is no bad news expected in results season and so the market should break out on the higher side.
Which opinion do you support? Share your thoughts in comments below.
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Hi,
Thanks for your informative articles. I really like your blog. I am a new investor who recently bought a few shares of ITC before its ex-bonus date.
Can you please tell me when I will get the bonus shares in my demat account.
Thanks
PS: I know this is not a comment relevant to the above post. But I didn’t see an email id to contact you. I hope you don’t mind me posting this query here.
Lala, No I do not mind. Now coming to your question there will be 2 dates which will be important to you. One is the registration date when the split was done and if you hold the shares on that day expect the fresh shares to get into your account in couple of weeks time.
Thanks Shabbir. So I guess I will have to wait 2-3 weeks to get the ITC shares.
Just a doubt – Is the share broker (depository participant) involved in any way in transferring the shares to the demat account or is it done automatically by the depositories (CDSL/NSDL)?
Broker but not your broker the broker from the ITC end.
Nifty is trading in tight range, Support of down side is 5400 and very good resistance on the upper side is 5600. Looks like market may remain in this range.
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hi sir,
would u got the membership in intelligent-investor-forum@googlegroups.com????
txxxxxxxxxxxx
regd,
deepakgajra
I am already a member of that group Deepak.