Provisional figure shows a sale of approx 1 billion Dollars (3938 cr), so how did our market end up with marginal losses when last week half the above sale made them tank 10% & more... unlike last few days even futures side they were net sellers of 300 cr net in stock & nifty futures together, only solace is our mutual funds about 2160 cr. volatile times indeed, well a break of today's bottom will point to the inevitable test of bottom, which will finally satisfy all Technical analysts... a test of the falling trendline point to 4850 region.
Since last 2 days the index heavies (RIL, ONGC, NTPC) have been nicely manipulating the indexes, during the upmove there was no sign of -ve news & now in the downmove no sign of +ve news, how the operators manipulate the media is amazing, even look at the company result in these recent times how so many companies come with lower than expected results only during correction & crashes. People are made to assume the best during upmoves & worst during the downmoves, upside figures of 25 to 30K were thrown easily & now 12/14K are doing the rounds.
My personal stratergy would be to buy 20/25% on every 5% downmove if finance permits, but do your own math & measure your own risk appetite, so Bon Appetite.
Foot Note: A billion dollar sale & the rupee ends stronger ??? I wonder if its not one of the infamous wrong figures, to create panic. Also Citibank subprime problems hit Mumbai, closes 8 ATMs to cut costs ;)
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2 comments:
Nice work plz keep it up.In sync with you regarding Nifty's Down move.
thanks dada 5071 should hold otherwise 4850 is a necessary evil...
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