Yesterday the boxing match between Floyd Mayweather and Manny Pacquiao attracted huge fans. 

It was advertised as the fight of the century and hence the prize money was also very huge.

Pop star Beyonce, Rap superstars Nicky Minaj, Justin Bieber and Shawn Corey Carter (better known as Jay Z), tennis veterans Steffi Graf, Andre Agassi, many Hollywood fame personalities and the yesteryear boxing kings like Mike Tyson witnessed the show.  It was a one sided match in which Floyd Mayweather won the game without much ado. Mayweather reportedly won $120 million while Manny Pacquiao pocketed $80 million.

One of the traders who witnessed the fight informed me that the macth can be compared as an intraday play. Unfortunately he did not have the clear cut vision to see that the prize money as a dividend to the long term playoff by both the players. Both of them are in the boxing ring for more than 20 years and hence they deserved a decent dividend. The game clearly informs us the importance of long term investing.

Coming back to the markets, Nifty has an important support at 8060. If it finds supports then we can see a good reversal. But in case Nifty breaches below 8060 on the closing basis then the fall will be very sharp.

This month there will be lots of surprises in our postings. We have to work for the same and hence we may not be able to post at regular intervals.

Next newsletter will be posted on next Monday and till then have a careful outing with the market.