So finally, SEBI has taken some steps against the Akruti City shares move. I hope non of the reader of this blog might have not taken up any long position in the Akruti. On Thursday, i have clearly written that SELL Akruti. Finally the counter will be excluded from the F&O segment from the next series and after that the same will be put in to the 'T' group. I hope SEBi will continue to keep eyes on the movement in Akruti Nirman. In the past also there has been many well know companies that have been put into the T group and after that also the counter have seen unusally rise in the share price, and many of them have become multi bagger. Akruti will still continue to fall, it may fall to 500-600 levels in the coming days. Still i would advice not to take any long position in the counter. Nifty in last week opened with a positive note, continued to rally from the previous week. Nifty has taken good support at the trendline. In the last 2-3 days Nifty is trrying hard to close above the same. On Thrusday and Friday, Nifty bounced back smartly and close in positive zone or marginally iin -ve zone. Volumes have also been good in the past week. For quite sometime we havent seen volumes above Rs10K Cr in the NSE cash segement. But in the last week, volumes were above the same. According to the provisional figures provided by the NSE site, FII & DII remained net buyers for Rs 400 & Rs 500 respectively in the cash segment. Nfity will again bounce back from the current levele. The resistance level of 2850 should be broken, as there has been good volumes and buying by the FII and even the domestic firms. Nifty if crosses and close above 2850 for 1-2 trading sessions then the Nifty can rally up to 2970 levels.
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