Daily trend of the market is down.
Markets took a sharp fall in opening trades in Asia but later recovered and closed in postive also. Even Europe which opened weak, was performing better than what was expected. It seems that the package of $700 B might see the light again. Let us wait with crossed fingers and see what happens
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Percentage above support
Percentage above support is still below 50% (today it is 7%) so we recommend that no delivery should be bought current levels
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Strong Futuers
This is list of 10 Strong Futures: Bharat Petro,Hind.Petrol,Hero Honda,Axis Bk Ltd,Syndicate Bk,Hindustan UniLev,Acc Ltd,Bk of India,Indian Bk,Dabur India.
Weak Futures
This is the list of 10 Weak Futures: Lanco Infratech,Nucleus,Kpit Ltd,Bajaj Hind,Aptech Training,S Kumars Syn,Rajesh Exports,Hinduja Ventures,Housing Dev& In,Ranbaxy Labs.
Tuesday, September 30, 2008
US bailout not done
The bailout package has ben defeated and has not been passed by the U S ,so whatever expectations which were build in the world markets,are now lost. It seems that till the time US markets do not stabalize there will be pressure all over.
Monday, September 29, 2008
Analysis of Indian Stock Market for September 30, 2008
Daily trend of the market is down.
Market is indeed very volatile, We expected the market to take the support at 4000 level and rise, but the market instead became very volatile.The markets have become oversold at current levels. So it is better to be out of the market
Due to financial problems in Europe regarding Fortis and Bradford & Bingley, the Asian market as well as European markts tanked with the result most of the world markets were down. The positive sentiment with was supposd to come from the yesterday's overnight passing of 700 billion package partially by house of representative in USA was overshadowed by the probelms of European banks.Let us see whether today night Dow and Nasdaq can pull the market from the bearish sentiment and close higher.More details are coming out of the package and it is hopeful that the takeover of Wachovia by Citigroup sometime back should remove some uncertainity
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Percentage above support
Percentage above support is still below 50% (today it is 5 %) so we recommend that no delivery should be bought at current levels
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Stong Futures
This is list of 10 Strong Futures: Syndibank, Hindunilvr, Col Pal, Bpcl, Acc, Glaxo, Hero Honda, Itc, Hindpetro & Ongc.
Weak Futures
This is the list of 10 Weak Futures: Litl, Ivrprime, 31Infotech, Rajesh Expo, Kpit, Strtech, Aptecht, Niit Ltd, Hdil & Ranbaxy.
Market is indeed very volatile, We expected the market to take the support at 4000 level and rise, but the market instead became very volatile.The markets have become oversold at current levels. So it is better to be out of the market
Due to financial problems in Europe regarding Fortis and Bradford & Bingley, the Asian market as well as European markts tanked with the result most of the world markets were down. The positive sentiment with was supposd to come from the yesterday's overnight passing of 700 billion package partially by house of representative in USA was overshadowed by the probelms of European banks.Let us see whether today night Dow and Nasdaq can pull the market from the bearish sentiment and close higher.More details are coming out of the package and it is hopeful that the takeover of Wachovia by Citigroup sometime back should remove some uncertainity
---------------------------------------------------------------
Percentage above support
Percentage above support is still below 50% (today it is 5 %) so we recommend that no delivery should be bought at current levels
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Stong Futures
This is list of 10 Strong Futures: Syndibank, Hindunilvr, Col Pal, Bpcl, Acc, Glaxo, Hero Honda, Itc, Hindpetro & Ongc.
Weak Futures
This is the list of 10 Weak Futures: Litl, Ivrprime, 31Infotech, Rajesh Expo, Kpit, Strtech, Aptecht, Niit Ltd, Hdil & Ranbaxy.
Saturday, September 27, 2008
Likely scenario for Monday, September 29, 2008
It is expected that the $700 billion would be passed by the US on Sunday which is to basically rescue the us economy. Once that is through, it is expected that the world stock markets would open very strong on Monday with a result that the Indian Stock Market would also open with a big rise.
Other expected effects of the $700 bailour appoval are :
1. Dollar Index would take a nose-dive with the result that the euro would rise.
2. A Simultaneous jump in gold and silver.
All one can do is wait for the big Sunday!
Other expected effects of the $700 bailour appoval are :
1. Dollar Index would take a nose-dive with the result that the euro would rise.
2. A Simultaneous jump in gold and silver.
All one can do is wait for the big Sunday!
Analysis of Indian Stock Market for September 29, 2008
Daily trend of the market is down.
Market is very volatile, but there is a support at 4000 level. We have to see whether market takes this support and go up or not. Resistance comes near 4250 - 4300.So if the market takes a counter rally then we can expect the market to go up till 4250
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Percentage above support
Percentage above support is still below 50% (today it is 9 %) so we recommend that no delivery should be bought current levels
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Stong and Weak Futures
This is list of 10 strong Futures: Syndi Bk, Gtoffshore, Moserbaer, Hind UniLvr, Glaxo, Acc, HeroHonda, Jindalsaw, Albk & ColPal. And this is the list of 10 Weak Futures: Unitech, 31Infotech, Ivrprime, Kpit, Aptecht, Hdil, Niit, Strtech, Litl & Ranbaxy
Market is very volatile, but there is a support at 4000 level. We have to see whether market takes this support and go up or not. Resistance comes near 4250 - 4300.So if the market takes a counter rally then we can expect the market to go up till 4250
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Percentage above support
Percentage above support is still below 50% (today it is 9 %) so we recommend that no delivery should be bought current levels
---------------------------------------------------------
Stong and Weak Futures
This is list of 10 strong Futures: Syndi Bk, Gtoffshore, Moserbaer, Hind UniLvr, Glaxo, Acc, HeroHonda, Jindalsaw, Albk & ColPal. And this is the list of 10 Weak Futures: Unitech, 31Infotech, Ivrprime, Kpit, Aptecht, Hdil, Niit, Strtech, Litl & Ranbaxy
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