Archives : CORRECTION OVER ???? - 19/09/2008
CORRECTION OVER ???? – 19/09/2008.

Please recall your memory and remember how we predicted that inspite of the good news that India got the NSG waiver, we warned about the weakening technicals of the market. We told very clearly that selling pressure was visible at higher levels and sustainability at higher levels was difficult. The result is here, just see how the market crashed after it had given a Head & Shoulder Breakout and achieved the target within a week.

  • MECCAS OF CAPITALISM COLLAPSE.
  • SENSEX.
  • NIFTY.
  • LAST WEEK’S RECOMMEDATIONS:

Once again what a way to achieve 100% again.  Terrific performance once again. Bull or Bear does not matter as long as we make such fantastic profits.
  • SELL RELIANCE 1932 TGT 1795 Reached 1765.
  • SELL REL 929 TGT 836 Reached 702.
  • SELL TCS 810 TGT 757 Reached 671.
  • SELL HDFC 2182 TGT 2062 Reached 2000.
  • SELL DLF 466 TGT 450-439-422 Reached 366.
If one had followed our recommendations and sold 100 shares of Reliance, 300 shares of REL, 300 of TCS, 100 shares of HDFC, 500 shares of DLF than one could have made the fantastic profits of RS. 1,94,500 in a week !!! 

  • THIS WEEKS RECOMMEDATIONS:
  • CATCH ME IF YOU CAN:

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CORRECTION OVER ???? – 19/09/2008.

Please recall your memory and remember how we predicted that inspite of the good news that India got the NSG waiver, we warned about the weakening technicals of the market. We told very clearly that selling pressure was visible at higher levels and sustainability at higher levels was difficult. The result is here, just see how the market crashed after it had given a Head & Shoulder Breakout and achieved the target within a week.

 MECCAS OF CAPITALISM COLLAPSE.

Last week was a week full of turmoil as our market collapsed in synchronization with global markets. The financial market in the U.S. went into turmoil as one financial mega house after another starting going bankrupt. Bear Stearns, Freddie Mac, Freddie Mae, Lehman Brothers, AIG, Merrill Lynch the list was becoming endless. The once, temples of Capitalism started going bust. The financial implications were there for all to see as one after another all global markets collapsed. Finally on Thursday, the Fed decided enough was enough and along with ECB and other major Central Banks across the world decided to pump in unheard amount of liquidity overnight and this sparked a major rally across the globe. The other major move by the Fed was to Ban the shorting of over 600 financial stock futures. This resulted in a major global rally in which Russia went up by astonishing 20%, followed by Hong Kong & China up by nearly 10% and the European markets too were up by 6 to 9%.

SENSEX.

Sensex opened the week at 13666, made a high of 14097, made a low of 12558 and closed the week at 14042, thus registering a weekly gain of 42 points. The Sensex recorded a Bullish Reversal Pattern in the form of a Hammer. The weekly ROC has moved in the positive and the weekly MACD is also suggesting some more upside.             The Sensex must close above the 50 DMA (14307) for the short term trend to turn positive. The major resistance that the Sensex will encounter will be at 14835. The Trendline Resistance is at 14835-15431-15790. The Trendline Support is at 13271-12499.

For the week ahead the Resistance is at 14307-14835-15431-15790. Support is at 13764-13269-12558.              

NIFTY.

Nifty opened the week at 4231, made a high of 4262, low of 3799 and closed the week at 4245. The weekly gain was 17 points. The Nifty recovered sharply and made Dragonfly Doji on the weekly charts. On Friday, the Nifty made a opening Marubuzo. The Nifty futures ended the week with a premium of over 30 points mainly due to short covering. The OI PCR was at extremely oversold levels at 0.82 and that improved to 0.96 by Friday. The Nifty has to stay above 4301, which is the 50 DMA, for the short term trend to turn positive. The major resistance for the Nifty going ahead will be at 4405. The Trendline Resistance is at 4405-4504-4629. The Trendline Support is at 4234-4015.

For the week ahead, the Resistance is at 4301-4405-4504-4629. Support is at 4234-4158-4015. 

LAST WEEK’S RECOMMEDATIONS:

Once again what a way to achieve 100% again.  Terrific performance once again. Bull or Bear does not matter as long as we make such fantastic profits.

  • SELL RELIANCE 1932 TGT 1795 Reached 1765.
  • SELL REL 929 TGT 836 Reached 702.
  • SELL TCS 810 TGT 757 Reached 671.
  • SELL HDFC 2182 TGT 2062 Reached 2000.
  • SELL DLF 466 TGT 450-439-422 Reached 366.
If one had followed our recommendations and sold 100 shares of Reliance, 300 shares of REL, 300 of TCS, 100 shares of HDFC, 500 shares of DLF than one could have made the fantastic profits of RS. 1,94,500 in a week !!! 

THIS WEEKS RECOMMEDATIONS:

  • BUY SBI 1565 SL 1547 TGT 1675-1789-1838.
  • BUY BOB 323 SL 317 TGT 338-358.
  • BUY AKRUTI 907 SL 880 TGT 934-965.
  • BUY ABAN 2464 SL 2432 TGT 2542-2650-2735.
  • BUY RELIANCE 2055 SL 2036 TGT 2105-2142.
  • BUY HDIL 224 SL 216 TGT 253-261-271.
 CATCH ME IF YOU CAN:  
  •  SBI
  • BANK OF BARODA
Disclaimer : The recommendations made herein do not constitute an offer to sell or a solicitation to buy any of the securities mentioned. No representations can be made that the recommendations contained herein will be profitable or that they will not result in losses. Readers using the information contained herein are solely responsible for their actions. Information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness.

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