NIFTY CALL FOR MONDAY, NOVEMBER 29,2010 - Nifty is on its way to 5400. Nifty is under severe pressure. The fall in the Nifty so far has come without any real FII selling. Infact, FIIs did not even have a chance to react in the past 2 day. The question is with a falling dollar and a falling Nifty, will they sell the very stocks they stocked up on. The Absolute funds and ETFs will (and they are the predominant foreign investors right now)
So what can you expect next:
a) Selling in index stocks. Banks look specially vulnerable on the charts and could crack very sharply
b) The shorts may smell the opportunity to take the markets down faster
c) Retail traders have such significant losses that brokers on monday may sell perfectly good stocks in their portfolios
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