Archive October 2008
Pre-Market Review 9.00 am.
Has the market bottomed-out ?
The last close at 2697 gives out a signal that the market seems to have bottomed out. Today's action will confirm the markets' position.
Today's High/Low forecast: 2980/2510
The markets are expected to be volatile but may end flat or with marginal gains.
Today was TATA's Day. All the Tata stocks were front runners be it Tata Motors, Tata Steel, Tata Power and first among all Tata Communications. Wipro,Zee were others. While Suzlon, Reliance Communications were 'Negative Leaders'.
3.40 pm: After much of action markets today closed flat at 2697. It may be stabilizing at the current levels.
Recommendation:
Buy - Tata Steel below 160 - for medium to long term
Buy - GAIL below 200 - for medium to long term
Pre-Market review 9.00am
Today the market may witness high volatility. The high and low can be 2980 and 2330.
Day traders can take advantage of the above information.
Investors are advised not enter at this stage, they should wait for an opportunity to enter for long term as and when Nifty goes below 2000 mark.
'Mahurat' session trapped investors and held them back. All the action was towards the end part where market slipped and investors were trapped. Its indicative of volatile day tomorrow.
Chinese mkt has also shown sharp correction and slipped to 2 years' low. An impact of global slow down seems to have affected the Dragon, but its financial health is better than rest of the world.
Next support level for Nifty is way below at 2010. "FOR YOUR EYES ONLY".
No one would have expected it to happen so soon. Just the wrong policies and shortsighted planning of Finance Minister. Have a look of China, upon whom all the nations of world are looking for helping the world economy. Chinese never over spent when things were pouring in, on contrary our honorable Finance Minister went SIX TIMES overboard by doling out subsidies & waving loans and thus increasing expenses to the tune of whopping SIX TIMES, otherwise India would have remained strong like China.
Resulting in mopping all the good work done by Mr.Reddy, Governor, RBI.
3.30 pm. Nifty closed at 2584 on a very negative note.
12.00 NOON. NIFTY touched 2661, this may be the lowest point of the day. Some recovery might take place now.
10.00 AM. The market have opened on a negative note, that means there will be short covering in the afternoon. It appears they will trap short sellers.
9.30 am. As per technical analysis, today the markets can show upward movement of 90-140 points. But don't enter, this movement may not last. Gail below 198 is recommended for medium to long term.
I am sorry friends as i was unable to update on 22 Oct. 2008, because of technical problems.
The market sentiment is very negative, I think market will definitely touch 2850. If it breaks this support level then next support is really very low at 2040.
With every day the situation is turning ugly. The best would be sit on your cash and start investing only when the cloud clears. Let the DUST settle down.
Since technical charts reveal that markets are oversold, it may move sideways for a day or even show slight improvement, and then, continue its trend.
On upper side the next target is 3360 and then 3410. On the lower side the crucial level for tomorrow is 3040, if it gets below it then possibility is that it will go to test 2960 & 2850.
Once the market gets below 2980 heavy purchasing is expected and then the market may move upwards.
Evening View:
Markets came under selling pressure from Mutual Funds & FII. Whatever the positivity was there has been wiped clean.
However its maintained that the market will definitely test 2850 mark or 10point +/-, only then the market may rebound to 2900 level, stay there or consolidate at 2900-2980. BUT if the market go below 2800, then its not healthy.
BUY Recommendation for PNB @ 490or below, for medium to long term.
Early Morning View:
Today the NSE is expected to close positive by 80-90 points.
One can buy PNB for medium to long term at 485-490.
Today the markets closed at 3269. Market performance is highly negative, which is evident from following data:
Hold your horses tightly. It is strongly recommended that small investors should stay away from the market.
The markets have again turned negative. The problem of financial crisis is much bigger than it is being projected. According to a professor in economics, the problem could afflict the world for at least 10years beginning from the year 2007 to 2016.
The market now has next support at 2800-2860 levels, which may be touched in few days. If the market does not bottom outs at that level then the support levels will be pushed back to 2000.
Sentiment cannot be built on statements by finance ministry's fire-fighting. The present scenario can be easily attributed to US sub-prime crisis but the real reason is no long term vision. When one is sitting on surplus of foreign reserves one should not start spending blindly. Mr.Chidambram started spending the reserves by way of waving loans, giving subsidies etc. The banks were at total loss. All the good work done by RBI'S Mr.Reddy was being washed away.
The market responded as predicted, but sentiment is very negative.
As analyzed (see 08/Oct/09) the markets MAY TOUCH 3700, but again not beyond. Then it will move sideways ultimately to come down. If you are sitting on profit then book it and forget the market for some time.
From tomorrow, the market may show recovery as per the triggers:-
I think market is in the process of making double bottom IF it does not tumble below 3710 in the coming days. If that is so, market may start upward trend. It will face some resistance at 5500.
Else market may go below and may even touch 3500.
As analyzed earlier, the market in spite of showing early down and late comeback ultimately settled with 30 points gain.
The bail-out plan by Bush is ready with these modifications:
Early Morning Analysis:
BUY OR DO BOTTOM FISHING IF NSE NEARS 3840..
Lets see how much euphoria created by statements could sustain. Today the market is expected to move sideways.
31/Oct/08
Pre-Market Review 9.00 am.
Has the market bottomed-out ?
The last close at 2697 gives out a signal that the market seems to have bottomed out. Today's action will confirm the markets' position.
Today's High/Low forecast: 2980/2510
The markets are expected to be volatile but may end flat or with marginal gains.
29/Oct/08
Today was TATA's Day. All the Tata stocks were front runners be it Tata Motors, Tata Steel, Tata Power and first among all Tata Communications. Wipro,Zee were others. While Suzlon, Reliance Communications were 'Negative Leaders'.
3.40 pm: After much of action markets today closed flat at 2697. It may be stabilizing at the current levels.
Recommendation:
Buy - Tata Steel below 160 - for medium to long term
Buy - GAIL below 200 - for medium to long term
Pre-Market review 9.00am
Today the market may witness high volatility. The high and low can be 2980 and 2330.
Day traders can take advantage of the above information.
Investors are advised not enter at this stage, they should wait for an opportunity to enter for long term as and when Nifty goes below 2000 mark.
28/Oct/08
'Mahurat' session trapped investors and held them back. All the action was towards the end part where market slipped and investors were trapped. Its indicative of volatile day tomorrow.
Chinese mkt has also shown sharp correction and slipped to 2 years' low. An impact of global slow down seems to have affected the Dragon, but its financial health is better than rest of the world.
24/Oct/08
Next support level for Nifty is way below at 2010. "FOR YOUR EYES ONLY".
No one would have expected it to happen so soon. Just the wrong policies and shortsighted planning of Finance Minister. Have a look of China, upon whom all the nations of world are looking for helping the world economy. Chinese never over spent when things were pouring in, on contrary our honorable Finance Minister went SIX TIMES overboard by doling out subsidies & waving loans and thus increasing expenses to the tune of whopping SIX TIMES, otherwise India would have remained strong like China.
Resulting in mopping all the good work done by Mr.Reddy, Governor, RBI.
3.30 pm. Nifty closed at 2584 on a very negative note.
12.00 NOON. NIFTY touched 2661, this may be the lowest point of the day. Some recovery might take place now.
10.00 AM. The market have opened on a negative note, that means there will be short covering in the afternoon. It appears they will trap short sellers.
9.30 am. As per technical analysis, today the markets can show upward movement of 90-140 points. But don't enter, this movement may not last. Gail below 198 is recommended for medium to long term.
23/Oct/08
I am sorry friends as i was unable to update on 22 Oct. 2008, because of technical problems.
The market sentiment is very negative, I think market will definitely touch 2850. If it breaks this support level then next support is really very low at 2040.
With every day the situation is turning ugly. The best would be sit on your cash and start investing only when the cloud clears. Let the DUST settle down.
21/Oct/08
At 11:50 am. The current position is very good as the markets have made a double bottom in the early hours of the trade. It raises positivity. IT sector is pulling up the markets. IDEA, ITC & SUNPHARMA are in negative.
At 11:50 am. The current position is very good as the markets have made a double bottom in the early hours of the trade. It raises positivity. IT sector is pulling up the markets. IDEA, ITC & SUNPHARMA are in negative.
20/Oct/08
Since technical charts reveal that markets are oversold, it may move sideways for a day or even show slight improvement, and then, continue its trend.
On upper side the next target is 3360 and then 3410. On the lower side the crucial level for tomorrow is 3040, if it gets below it then possibility is that it will go to test 2960 & 2850.
Once the market gets below 2980 heavy purchasing is expected and then the market may move upwards.
17/Oct/08
Evening View:
Markets came under selling pressure from Mutual Funds & FII. Whatever the positivity was there has been wiped clean.
However its maintained that the market will definitely test 2850 mark or 10point +/-, only then the market may rebound to 2900 level, stay there or consolidate at 2900-2980. BUT if the market go below 2800, then its not healthy.
BUY Recommendation for PNB @ 490or below, for medium to long term.
Early Morning View:
Today the NSE is expected to close positive by 80-90 points.
One can buy PNB for medium to long term at 485-490.
16/Oct/08
Today the markets closed at 3269. Market performance is highly negative, which is evident from following data:
- -0.32% in Last Week
- -19.77% in Last 1 Month
- -44.63% since Last 12 Months
15/Oct/08
Hold your horses tightly. It is strongly recommended that small investors should stay away from the market.
The markets have again turned negative. The problem of financial crisis is much bigger than it is being projected. According to a professor in economics, the problem could afflict the world for at least 10years beginning from the year 2007 to 2016.
The market now has next support at 2800-2860 levels, which may be touched in few days. If the market does not bottom outs at that level then the support levels will be pushed back to 2000.
14/Oct/08
Sentiment cannot be built on statements by finance ministry's fire-fighting. The present scenario can be easily attributed to US sub-prime crisis but the real reason is no long term vision. When one is sitting on surplus of foreign reserves one should not start spending blindly. Mr.Chidambram started spending the reserves by way of waving loans, giving subsidies etc. The banks were at total loss. All the good work done by RBI'S Mr.Reddy was being washed away.
13/Oct/08
The market responded as predicted, but sentiment is very negative.
10/Oct/08
As analyzed (see 08/Oct/09) the markets MAY TOUCH 3700, but again not beyond. Then it will move sideways ultimately to come down. If you are sitting on profit then book it and forget the market for some time.
08/Oct/08
From tomorrow, the market may show recovery as per the triggers:-
- Finance Minister P Chidambaram has assured that "the economy has the capacity and resilience to weather the storm
that is blowing across the world".
- The country received FDI (Foreign Direct Investment) of 14.6 billion dollar during April-August 2008 against 6.5 billion dollar a year ago. Commerce and Industry Minister Kamal Nath has said,"This (increase in FDI) must be seen in the context of the global economic situation," implying that India still remains favorite, inspite of global turmoil.
06/Oct/08
When all analysis start failing its time to purchase but slowly, around 10% of cash available.
05/Oct/08
I think market is in the process of making double bottom IF it does not tumble below 3710 in the coming days. If that is so, market may start upward trend. It will face some resistance at 5500.
Else market may go below and may even touch 3500.
01/10/08
As analyzed earlier, the market in spite of showing early down and late comeback ultimately settled with 30 points gain.
The bail-out plan by Bush is ready with these modifications:
- Increases government's guarantee on savings from $100,000 to $250,000
- Tax breaks to help small businesses and promote renewable energy
- Increasing the coverage of child tax credit and help for victims of recent hurricanes
Early Morning Analysis:
BUY OR DO BOTTOM FISHING IF NSE NEARS 3840..
Lets see how much euphoria created by statements could sustain. Today the market is expected to move sideways.
