Monday, August 6, 2007

Fall in Markets- Will it continue

Dow is falling everyday and is dragging other indices down too. There is a fear of Yen carry trade alongside which is creating panic. But is this for real or its a momentary phase which needs to settle down. nifty/sensex is diligently following Dow even though think tankers feel that India should not be affected due to sub prime story.

One of the reality is that in down market big fund houses are making good purchase. Morgan stanley, merill lynch, citigroup bought shares worth Rs. 700+ crores last week and is leaving no opportunity to buy more and cheap.

Its good startegy to buy in panic and and big boys are making the maximum use of it.

A close above 4320 would be good sign for Nifty and we can see that demage is complete. Let the dust sttle down before Nifty start its majestic jorney again.                                                              

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