Market Fall- The carnage continues

The worst is over for the market. It will take few sessions before going up again. People who bought today stands a good chance of quick profits. Today was the day of bottom fishing and the mighty would benefit a lot.

Wait for few sessions and things gonna move up again. Good Luck!!!!!!                                                              

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.                                                              

View on Nifty- Safe Strategy

Selling 4200PE and 4600 CE makes sense and would be safe strategy for this month. Return would be consistent and in line.                                                              

View on Nifty

Nifty tested the upper channel and hence met the target of our earlier posting at 4550. Thereafter it lost tthe gains and dip in negative before recovering to postive territory. If you study candlesticks it shows Doji formation which signifies indecisive ness. In order to rise further nifty needs to break the upper channel with volumes. If nifty goes on red today than it may retrace to 38% to 50% which comes out to the level of 4470 to 4445. Our long term target of 5000 on nifty is still intact

Today upside resistence are 4530 to 4550