Rajan EFFECT:Nifty near all time high

RAJAN EFFECT:

                                    When daily charts are showing negative divergence RBI GOVERNOR Mr. Rajan came with expected lines.And it was cheered by the traders heavily by moving the index up by more than 115 points to 6220.90.

MARKET ACTION:

                           NIFTY :6220.60

                        SENSEX :20929.01

INTERPRETATION:

                                The big money is playing the market. FII's buying pace was slowed. DII's are the net sellers daily. Retail investors are away from the market.But the indices are holding on.So be careful .While do not carry your long positions over night.