16 Aug 2024 - BankNifty stance is neutral, magical recovery.
BankNifty Stance Neutral ➡️
BankNifty gets an upgrade, but not to bullish but to neutral from bearish. We have managed to go up by 27pts ~ 0.05% in the current week, but this after a dramatic fall and then a recovery. 82% of this recovery coming on Friday the 16th, i.e. 698pts out of 851.
BankNifty went down to 49654 a level that we last saw on 6th Aug, and then magically rebounded. I know the frustration of the bears to drive down the prices because I am one of them.
I am a bear not because I do not negate the belief in India's growth story, but because of 2 important facts.
The primary reason for the huge influx of money to stock markets was that the average business owners felt the capital markets were giving better returns than their own enterprises.
People look at the order book and hope that there is someone else ready to buy the stock at a higher price and hence they are saved.
LIC To Invest Around Rs 1.3 Lakh Crore In Stock Market In Fiscal 2025
The news that LIC is ready to invest 130,000,000,000 in stock markets will definitely give courage to the average retail investor. All of them believe if they buy the shares of a company XYZ for Rs2000, the influx of more money will be forced to buy XYZ for a higher price and hence they are safe. For me that is froth.
The only reason the markets are going up even when the FIIs are not on a buying spree is due to the accidental courage the retail investors have got as they think the domestic institution is there to catch them.
BankNifty gets an upgrade, but not to bullish but to neutral from bearish. We have managed to go up by 27pts ~ 0.05% in the current week, but this after a dramatic fall and then a recovery. 82% of this recovery coming on Friday the 16th, i.e. 698pts out of 851.
BankNifty went down to 49654 a level that we last saw on 6th Aug, and then magically rebounded. I know the frustration of the bears to drive down the prices because I am one of them.
I am a bear not because I do not negate the belief in India's growth story, but because of 2 important facts.
The primary reason for the huge influx of money to stock markets was that the average business owners felt the capital markets were giving better returns than their own enterprises.
People look at the order book and hope that there is someone else ready to buy the stock at a higher price and hence they are saved.
LIC To Invest Around Rs 1.3 Lakh Crore In Stock Market In Fiscal 2025
The news that LIC is ready to invest 130,000,000,000 in stock markets will definitely give courage to the average retail investor. All of them believe if they buy the shares of a company XYZ for Rs2000, the influx of more money will be forced to buy XYZ for a higher price and hence they are safe. For me that is froth.
The only reason the markets are going up even when the FIIs are not on a buying spree is due to the accidental courage the retail investors have got as they think the domestic institution is there to catch them.
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