Thursday, 24 April 2014

Followup

This post is for followup on the earlier post

Do you want to know where the markets will move rest of the year?


You all now know that whenever nifty index closes above January High on monthly basis, for rest of the year it is safe to assume that nifty is going to go up.

Monthly data for year 2013 is as follows:


DateOpenHighLowClose
Dec 20136171.156415.256129.956304.00
Nov 20136289.756342.955972.456176.10
Oct 20135756.106309.055700.956299.15
Sep 20135480.256142.505318.905735.30
Aug 20135776.905808.505118.855471.80
July 20135834.106093.355675.755742.00
June 20135997.356011.005566.255842.20
May 20135911.406229.455910.955985.95
Apr 20135697.355962.305477.205930.20
Mar 20135702.455971.205604.855682.55
Feb 20136040.956052.955671.905693.05
Jan 20135937.656111.805935.206034.75

Here Jan month high is 6111.8.  Nifty closed above it on monthly closing basis in Oct 2013. In month of May and Sep it tried to go above the high of 6111.8 but could not give a close above it.  Only in Oct it gave a close of 6299. Rest is the history.  Nov and Dec were fantastic. It touched high of 6415 in Dec 2013.

Now the year 2014 so far till date April 24, 2014.

DateOpenHighLowClose
Apr 20146729.506861.606650.406840.80
Mar 20146264.356730.056212.256704.20
Feb 20146058.806282.705933.306276.95
Jan 20146323.806358.306027.256089.50
.
The Jan month high of 6358 has been conquered in March by giving a close of 6704. So now we already have a buy signal on index.  Use every dip to buy because we know rest of the year we are going to see the index making new highs. It seems to be a fantastic year ahead.....

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