So finally as mentioned in this column since last week, markets break 4800 and are now looking further south. CHEERS!! There aren't any positive triggers in this market. Oil price hike, news of early elections, high inflation, bad economic data in the US...the list just goes on. All these were early indicators for us. Look the NIFTY charts...even in yesterday's fall market stopped falling exactly at our trendline. Today we might have a gap down opening n open below the trendline if close is below that then we might be starting another minor trend within this major trend. All those holding short along with me since last week, hold it. I am giving major support levels for NIFTY spot watch these for possible reactions in NIFTY...4700, 4670, 4630 (a very important support), 4525 and the last big one at 4440.
For the moment avoid individual stocks and just short nifty on every rise. There is more blood to come. Shorts can hold comfortably for 4500 in NIFTY.
Investors can ready their shopping list now...there is a discount sale going on...a lot of good stocks like SBI, ICICI bank, RCOM even reliance is going to be available cheap. Be ready!!!!
Tuesday, June 3, 2008
Cheers...we make merry as market crashes....June 03
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