We had a funny question that went around in Wall Street when I worked there
Q: Why did God create stock analysts ?
A: In order to make weather forecasters look good.
All the rate hikes done by the RBI during the year shall have a post traumatic effect on the economy that shall be felt not today but after 6 months. We are still of the assumption that the Euro crisis and debt problem on the western front could be actually WORSE than the 2008 crisis. Be prepared for 2012 as we could foresee India and the global markets slipping into slow growth or maybe a recession.
Bears are going short now and indicators are getting close to giving us a SELL signal. Wait for 5150.
The market analysts you see on TV is an expert who will know tomorrow why the things he predicted yesterday didn't happen today - Anonymous
Q: Why did God create stock analysts ?
A: In order to make weather forecasters look good.
We have a lot of queries whether now is the time to BUY ! NOOO ITS NOT.
Do not buy into this fake rally. On the 1st of Sept (LINK) we had warned shorters that if Nifty closed above 5030 then 5100-50 was very much in the cards and here we are. Our research leads us to believe that we should once again go back to the grounds we touched last month. 4700 and 4600 are very much in cards, Again - if that were broken we may see 4045 next !!
All the rate hikes done by the RBI during the year shall have a post traumatic effect on the economy that shall be felt not today but after 6 months. We are still of the assumption that the Euro crisis and debt problem on the western front could be actually WORSE than the 2008 crisis. Be prepared for 2012 as we could foresee India and the global markets slipping into slow growth or maybe a recession.
Bears are going short now and indicators are getting close to giving us a SELL signal. Wait for 5150.
The market analysts you see on TV is an expert who will know tomorrow why the things he predicted yesterday didn't happen today - Anonymous
The dollar Index is close to 200DMA of 76.3 If it crosses 77 then surely it will reach 80 which means more pain for the market.
ReplyDeleteAstrologically, the upcoming Saturn-Ketu aspect at the end of September has the potential to upset stability and take global markets lower. Although the Indian market may be comparatively oversold, it seems unlikely it would escape another downdraft. Given the slow erosion of the energy of bullish Jupiter and the approaching Saturn-Ketu aspect, it would seem that the upside for this mini-rally may be quite limited.
Today Bank indexed resisted at 9910 which 38.2% retrachment and also previous support.
Now Nifty will find it difficult to pass 5200 soon and may drift lower to 4600-700 levels and may see sharp rise to 5500 on Nifty by October
Would be a surprise if Nifty breaks 4600 in Sept but, it may break in next 3-4months time
For October I'll bet for 5500 on Nifty..
Happy Trading!!