Today Nifty closes above 5000 mark after a long time. Today it gained 62 points. Will it sustain and reach new highs? Can investors make over their lost money? What do you think? What is the future of Nifty?
Meera sandhu
Like it on Facebook, Tweet it or share this topic on other bookmarking websites.
I have a feeling that the market is witnessing a contrarian trend. As long as the ghost of European debt crisis is there, a decisive move can not be expected.
Investors might be feeling, if we buy at this level, more people may put in money seeing Nifty at this level and thus Nifty may gain some 300-350 points. At that time, it would be nice to pull back the money they invested below 5000 levels, thus recovering some of the losses of previous quarter. I assume so.
To my mind that's a dangerous trap and any thought of buy should be backed by sound analysis.Stock specific action can be initiated but overall the market has not bottomed out yet!
Stock markets present opportunities all the time and smart traders make money in a falling market too! It might be a buying opportunity or selling opportunity!
