Monday 27 October 2008

A letter from a bruised bull to the "expert" analyst

My dear Analyst,

I have been a great follower of yours. Each day I used to rise with what you were speaking from Tokyo and went to bed with what you were preaching from New York. I bought when you told me to and sold when you scared me to. During the NASDAQ run I made a few multibaggers but then lost all of it. You would remember how you scolded me for not having applied stop losses . That was after the stocks went below those levels. But I continued to believe in you and your community. I made money in banking, sugar and construction, lost a few here and there. On the whole I did not do better then what I could have managed myself but still I enjoyed each moment of it. In June I lost quite a fortune on your Sterlite and Hindustan Zinc call. That was because the LME prices fell and I was taken off guard. As usual you rebuked me for not having put in stop losses.

During the current carnage when the index fell to 8800 one particular member from your community stormed the TV channels from Hong Kong and preached gloom, boom and doom. The local ones told me to stay away till the dust gets settled. Again I obliged and cut all my long positions converting them for cash. I booked profits in all the counters that I had got in early. This was because you advised me to take the profits home. For the losers you advised that there is no point selling at these levels and as it always happens I listened.
Investors wishing to save themselves from the bloom gloom and doom were advised me to go on a long holiday. I could not go on that holiday since it would have cost money. Another member from your community asked me to keep 30% in cash, a few told me to wait for the US interest rate cues while the others were preparing for a US led global recession and urged gulliable investors like me to buy gold and silver. Theysaid that these would be the saviors .
At an index level of 8800 the largest fund house from the land of the rising sun talked about an index level of 7000 above which they would not invest. Does any one know what they did after making that statement?

  • When ever I asked you something you were uncomfortable in responding you called it momentum and I thought that these stocks were for the greedy. But after having suffered because of my shortcomings (in not being able to understand you correctly) I have a few questions:

    1) Doctors, engineers, accountants do pass some examinations before being called experts. They undergo rigorous training and then only they are allowed to advise. DO you along with members of your community undergo the same test before advising millions of fools like me on TV.

    2) Do you ever look back and see how many of your recommendations went right and how many went wrong. If so how so if not why not?

    3) Do you ever feel guilty either morally or ethically when investors lose money on your recommendations.

    4) You have a habit of using vague words like:
    n Buy on declines
    n Should give you 20% return . Whether the stock is at Rs 700 or Rs 850 you talk of the same 20% returns.
    n Cautious optimism.
    n Apply strict stop losses – Please name me one person who has made money by applying strict stop losses except the person who sells subscription for such advice.
    n Momentum investing – If buying on a break out and selling on stop losses is not momentum investing then what is? Yet you prefer to talk of stocks that you do not understand as momentum investing.

    5) Most of the time your analysis is historic. You say this stock has made a 52 week high at so and so and then retraced itself to so and so and now is trading at so and so. You know the introduction that takes 70% of you analysis does not help me. I can see it in the pink papers and that costs Rs 2.00 only.

    6) I am tired of hearing words like supports, resistances, 200 day moving averages, Fibonacci, retrenchments RSI's etc

    7) Each day you looked at the NASDAQ and the Nikkei and told us where we would go. Over the last 5 years the NASDAQ has gone no where but we have gone up by more then 4 times. Do you remember the critical days when you went wrong?

    8) When stocks fell you blamed sentiment when they went up you said liquidity. Why can't you tell us before hand as to what will happen? Otherwise there is no difference between you and me.

    Yours Truly

    "The small investor"

    A bruised battered and mauled Bull


Regards,

Allies Financial Services


Website : http://alliesfin.blogspot.com/

Email Group : http://groups.google.com/group/alliesfin

Sms Services for Indian Mobile nos :

Stock Market Alerts & other info : http://www.smsgupshup.com/groups/ALLIESFIN

Stcok Market News & other info : http://www.smsgupshup.com/groups/ALLIESFIN9

** Foregin Nationals can check out this links for regular updates **

HAPPY DIWALI






Dear Readers / Visitors,



Wishing you & your family a Very Happy Diwali & A Prosperous New Year from TEAM, ALLIES FINANCIAL SERVICES, Mumbai, India






Regards,

Allies Financial Services

Website : http://alliesfin.blogspot.com/

Email Group : http://groups.google.com/group/alliesfin

Sms Services for Indian Mobile nos :

Stock Market Alerts & other info : http://www.smsgupshup.com/groups/ALLIESFIN

Stcok Market News & other info : http://www.smsgupshup.com/groups/ALLIESFIN9

** Foregin Nationals can check out this links for regular updates **

Monday 20 October 2008

Rapid Fire Round $ Stock Markets

Rapid-fire to a Stockbroker

Sensex ------ Senseless

Nifty ------ Baseless

Investors ------ Wealth less

Trader/Dealer ------ Clueless

Mutulfunds ------ Cashless

FIIs. ------- Shameless

Cash -------- Find-less

Analyst -------- Mindless

Inflation ---------- Topless

R B I -------- Helpless

Blue chips ------- 50% less

Midcaps ------- 75% less

Small caps ------ 90% less

Bears ---------- Fearless

Bulls -------- Sleepless

Loss -------- Not at all less

Promoters ------- Restless

Finance Minister -------- Emotionless

Economy ---------- Context less

Food -------- Eat less / Tasteless. Maybe Food less

Fresher --------- Jobless

AND A STOCK BROKER IS NOTHING LESS OF ABOVE ALL.

Regards,

Allies Financial Services

Website : http://alliesfin.blogspot.com/

Email Group : http://groups.google.com/group/alliesfin

Sms Services for Indian Mobile nos :

Stock Market Alerts & other info : http://www.smsgupshup.com/groups/ALLIESFIN

Stcok Market News & other info : http://www.smsgupshup.com/groups/ALLIESFIN9

** Foregin Nationals can check out this links for regular updates **

GUJJU BLOOD

Today's Joke: The Arab Story
~~~~~~~~~~~~~~~~~~~~~
An Arab was admitted in the Lilavati Hospital at Mumbai for a heart transplant, but prior to the surgery the doctors needed to store his blood in case need arises. As the gentleman had a rare type of blood, it couldn't be found locally. So the call went out to the neighboring states.

Finally a Gujarati was located who had a similar type of blood. The Gujarati willingly donated his blood for the Arab and the surgery went through.After the surgery, the Arab sent the Gujarati as appreciation for giving his blood, a new BMW, diamonds, jewelry, and half a million US dollars.

Once again the Arab had to go through a corrective surgery. His doctor telephoned the Gujarati who was more than happy to donate his blood again.After the second surgery, the Arab sent the Gujarati a thank you card and a box of almond halwa (sweets).

The Gujarati was shocked to see that the Arab this time did not reciprocate the Gujarati's kind gesture as he had anticipated.He phoned the Arab and asked him "This time also I thought that you would give me some thing like a Toyota Prado, Diamonds and Jewelry. But you gave only a card and a box of almond sweets.

To this the Arab replied "Can't help it, Bapu..... Now I have Gujju blood in my veins!!"


Regards,

Allies Financial Services


Website : http://alliesfin.blogspot.com/

Email Group : http://groups.google.com/group/alliesfin

Sms Services for Indian Mobile nos :

Stock Market Alerts & other info : http://www.smsgupshup.com/groups/ALLIESFIN

Stcok Market News & other info : http://www.smsgupshup.com/groups/ALLIESFIN9

** Foregin Nationals can check out this links for regular updates **

New York Times Article by Warren Buffet

New York Times-October 17, 2008

Buy American. I Am.
By WARREN E. BUFFETT

Omaha

THE financial world is a mess, both in the United States and abroad. Its problems, moreover, have been leaking into the general economy, and the leaks are now turning into a gusher. In the near term, unemployment will rise, business activity will falter and headlines will continue to be scary.

So ... I've been buying American stocks. This is my personal account I'm talking about, in which I previously owned nothing but United States government bonds. (This description leaves aside my Berkshire Hathaway holdings, which are all committed to philanthropy.) If prices keep looking attractive, my non-Berkshire net worth will soon be 100 percent in United States equities.

Why?

A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful. And most certainly, fear is now widespread, gripping even seasoned investors. To be sure, investors are right to be wary of highly leveraged entities or businesses in weak competitive positions. But fears regarding the long-term prosperity of the nation's many sound companies make no sense. These businesses will indeed suffer earnings hiccups, as they always have. But most major companies will be setting new profit records 5, 10 and 20 years from now.
Let me be clear on one point: I can't predict the short-term movements of the stock market. I haven't the faintest idea as to whether stocks will be higher or lower a month — or a year — from now. What is likely, however, is that the market will move higher, perhaps substantially so, well before either sentiment or the economy turns up. So if you wait for the robins, spring will be over.

A little history here: During the Depression, the Dow hit its low, 41, on July 8, 1932. Economic conditions, though, kept deteriorating until Franklin D. Roosevelt took office in March 1933. By that time, the market had already advanced 30 percent. Or think back to the early days of World War II, when things were going badly for the United States in Europe and the Pacific. The market hit bottom in April 1942, well before Allied fortunes turned. Again, in the early 1980s, the time to buy stocks was when inflation raged and the economy was in the tank. In short, bad news is an investor's best friend. It lets you buy a slice of America's future at a marked-down price.

Over the long term, the stock market news will be good. In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497.

You might think it would have been impossible for an investor to lose money during a century marked by such an extraordinary gain. But some investors did. The hapless ones bought stocks only when they felt comfort in doing so and then proceeded to sell when the headlines made them queasy.

Today people who hold cash equivalents feel comfortable. They shouldn't. They have opted for a terrible long-term asset, one that pays virtually nothing and is certain to depreciate in value. Indeed, the policies that government will follow in its efforts to alleviate the current crisis will probably prove inflationary and therefore accelerate declines in the real value of cash accounts.
Equities will almost certainly outperform cash over the next decade, probably by a substantial degree. Those investors who cling now to cash are betting they can efficiently time their move away from it later. In waiting for the comfort of good news, they are ignoring Wayne Gretzky's advice: "I skate to where the puck is going to be, not to where it has been."

I don't like to opine on the stock market, and again I emphasize that I have no idea what the market will do in the short term. Nevertheless, I'll follow the lead of a restaurant that opened in an empty bank building and then advertised: "Put your mouth where your money was." Today my money and my mouth both say equities.

Warren E. Buffett is the chief executive of Berkshire Hathaway, a diversified holding company.


Regards,

Allies Financial Services


Website : http://alliesfin.blogspot.com/

Email Group : http://groups.google.com/group/alliesfin

Sms Services for Indian Mobile nos :

Stock Market Alerts & other info : http://www.smsgupshup.com/groups/ALLIESFIN

Stcok Market News & other info : http://www.smsgupshup.com/groups/ALLIESFIN9

** Foregin Nationals can check out this links for regular updates **

Thursday 16 October 2008

NEW STOCK MARKET TERMS

CEO --Chief Embezzlement Officer.

CFO-- Corporate Fraud Officer.

BULL MARKET -- A random market movement causing an investor to mistake himself for a financial genius.

BEAR MARKET -- A 6 to 18 month period when the kids get no allowance,
the wife gets no jewelry, and the husband gets no sex.

VALUE INVESTING -- The art of buying low and selling lower.

P/E RATIO -- The percentage of investors wetting their pants as the market keeps crashing.

BROKER -- What my broker has made me.

STANDARD & POOR -- Your life in a nutshell.

STOCK ANALYST -- Idiot who just downgraded your stock.

STOCK SPLIT -- When your ex-wife and her lawyer split your assets equally between themselves.

FINANCIAL PLANNER -- A guy whose phone has been disconnected.

MARKET CORRECTION -- The day after you buy stocks.

CASH FLOW-- The movement your money makes as it disappears down the toilet.

YAHOO -- What you yell after selling it to some poor sucker for $240 per share.

WINDOWS -- What you jump out of when you're the sucker who bought Yahoo @ $240 per share.

INSTITUTIONAL INVESTOR -- Past year investor who's now locked up in a nuthouse.

PROFIT -- An archaic word no longer in use


Regards,

Allies Financial Services


Website : http://alliesfin.blogspot.com/

Email Group : http://groups.google.com/group/alliesfin

Sms Services for Indian Mobile nos :

Stock Market Alerts & other info : http://www.smsgupshup.com/groups/ALLIESFIN

Stcok Market News & other info : http://www.smsgupshup.com/groups/ALLIESFIN9

** Foregin Nationals can check out this links for regular updates **

Wednesday 15 October 2008

WALL - MART STREET

Hello,

Heard the latest .

'What an economy ...... the other day i wrote a cheque, the cheque was good, but the bank bounced!!!

'how do u take out 1million from the stock market.... by putting 5 million in it.

What worries me most about the credit crunch ... is that if one of my cheques is returned stamped - Insufficient Funds... i wont know if that is in my account or the Bank's!!!

Auditor's one line comment on Lehman's Balance Sheet.... on the left side (liabilities) nothing is right & on the Right side (Assets) nothing is left!!!!!

'I want to warn people from Nigeria who might be watching our show, if youget any e-mails from Washington asking for money, it's a scam. Don't fall for it' -

'Do you have any idea how cheap stocks are now? Wall Street is now beingcalled Wal-Mart Street' -

The difference between MOST pigeons and MOST investment banker? ALL pigeonscan still make a deposit on a BMW

Q: What's the difference between a guy who just lost everything in Vegas andan investment banker? A: A tie

What does AIG stand for? American Innocence and Greed.... or Am I Gone!!!I went to buy a toaster and it came with a bank.

Finally old wine in a new bottle....
---------------------------------------------
'A new teacher was getting to know the kids by asking them their name and what their father did for a living.
The first little girl said: 'My name is Mary and my Daddy is a postman.
'The next child, a little boy said: 'I'm Andy and my Dad is a mechanic.
'And so it went until one little boy said: 'My name is Johnny and my father is a striptease artist in a gay club.
'The teacher gasped and quickly changed the subject.
Later, in the school yard, the teacher approached Little Johnny privately and asked if it was really true that his dad danced nude in a gay bar.
Little Johnny blushed and said, 'No, he's really a Business Development Director at Lehman Brothers, but I'm just too embarrassed to tell anyone.'


Regards,

Allies Financial Services


Website : http://alliesfin.blogspot.com/

Email Group : http://groups.google.com/group/alliesfin

Sms Services for Indian Mobile nos :

Stock Market Alerts & other info : http://www.smsgupshup.com/groups/ALLIESFIN

Stcok Market News & other info : http://www.smsgupshup.com/groups/ALLIESFIN9

** Foregin Nationals can check out this links for regular updates **

Monday 13 October 2008

Warren Buffett's Reassuring Words On the Future

Hello,

As the stock market's wild moves downward have average investor worried about their financial futures & looking for leadership, it's important to keep Warren Buffett's reassuring words about the long-run in mind. Here's what he said live on CNBC just a few weeks ago:

"You know, five years from now, ten years from now, we'll look back on this period and we'll see that you could have made some extraordinary (stock market) buys. That doesn't mean it won't get more extraordinary a week or a month from now. I have no idea what the stock market is going to do next month or six months from now. I do know that the American economy, over a period of time, will do very well, and people who own a piece of it will do well."

Just don't borrow money to buy your piece.

Warren Buffett's Three Rules for Investing In a Crisis

1. "Cash combined with courage in a crisis is priceless"

2. "Dont invest in things you don't understand"

3. "Don't try to catch a falling knife until you have a handle on the risk"


Regards,

Allies Financial Services

Website : http://alliesfin.blogspot.com/

Email Group : http://groups.google.com/group/alliesfin

Sms Services for Indian Mobile nos :

Stock Market Alerts & other info : http://www.smsgupshup.com/groups/ALLIESFIN

Stock Market News & other info : http://www.smsgupshup.com/groups/ALLIESFIN9

** Foregin Nationals can check out this links for regular updates **

GAP Theory explained

Hello,



In our Previous post we have talked about gap in markets & we told that market have gap at 10200 & 9500 lvls & markets can test these levels in days to come.

There is basic thing in Gap theory that whatever gaps are made on charts on daily basis, markets irrespective of moving up or down have to come to those levels to fill the gap. Once Gap is achieved then markets tend to bounce by 5 to 10% on daily basis as it happened when Gaps were filled at 14500 & 12500 lvls.

So we have achieved 10200 on Sensex charts & as per our theory markets to test 11200 & 11500 lvls.

Markets know more better whats happening.





Regards,

Allies Financial Services

Website : http://alliesfin.blogspot.com/

Email Group : http://groups.google.com/group/alliesfin

Stock market Sms Alerts Services for Indian Mobile nos :

http://www.smsgupshup.com/groups/ALLIESFIN

& other http://www.smsgupshup.com/groups/ALLIESFIN9

** Foregin Nationals can check out this links for regular updates **

Saturday 11 October 2008

Worst weekly performance for Sensex, Nifty ever

Hello,

It's been the worst weekly performance for the markets. Today, the markets were very close to hitting the 10% circuit filter twice in the session, but pulled back off those lows. At one point, the Sensex was down over 1,000 points. The Reserve Bank was quick to step in with a 150 bps CRR cut, which includes a 50 CRR cut on October 6. But lower August Industrial Productivity numbers at 1.3% versus 10.9% YoY added to the pall of gloom. Even a lower inflation number at 11.80% and reassuring statements from Finance Minister P Chidambaram and Sebi Chairman CB Bhave failed to lift sentiment. The Nifty finally closed at 3,280 down 234 points, while the Sensex shut shop at 10,528 down 800 points.
Metal, realty, capital goods, power, banking, and oil stocks were hammered severely. Midcap and smallcap stocks also took a huge beating.

At various points in the course of trade it seemed that like the Sensex would hit the lower circuit, but fortunately, it did not hit. The lower circuit for Sensex was fixed at 1,275 points while that for the Nifty was at 390 points. The Sensex tumbled 1,088.6 points and the Nifty fell 314.7 points in intraday trade to hit a low of 10,239.76 and 3198.95, respectively.

The Sensex closed with a loss of 800.51 points, or 7.07%, at 10,527.85. The Nifty lost 233.7 points, or 6.65%, to settle at 3,279.95. The BSE Midcap slipped 334.48 points, or 8.34%, at 3,676 and the Smallcap index was down by 343.74 points, or 7.31%, at 4,355.45.

The total market cap as on October 10 was Rs 3,401,515.26 crore as against Rs 3,652,581.27 crore on October 8, a net erosion of Rs 251,066.01 crore.

In the F&O segment, Nifty futures added 36 lakh shares in Open Interest and ended at a premium of nearly 23 points on back of cash based selling. Aggressive short build up was seen in private banking stocks. Metal, infrastructure, telecom and Oil & Gas stocks continued to see short build up. Nifty PCR slipped to 0.74 in today's trade.

This has been the worst weekly performance for the Sensex and Nifty ever. The Sensex ended down by 15.5% or 1950 points and the Nifty closed down by 14% or 550 points at day's low. All sectoral indices fell over 10% this week; BSE Metal and Capital Goods indices were down over 20%. Among the heavyweights, Reliance Industries was down 13%, ONGC down 10% and Bharti Airtel down 9%. Among the index losers, Suzlon tumbled 36% followed by Reliance

Infrastructure and Reliance Communication, which fell 30% each.

The August Index of Industrial Production (IIP) numbers came in at 1.3% versus 10.9% year-on-year (YoY), which was much lower than CNBC-TV18 expectations of 5.79%. Manufacturing growth for August stood at 1.1% versus 10.7% YoY, and the consumer durables growth for the period has come in at 5.1% against 6.2%. Capital Goods growth was at 2.3% versus 30.8% and Mining growth declined to 4% from 14.7%.

M Govinda Rao, Director of National Institute of Public Finance and Policy (NIPFP) and member of Economic Advisory Council (EAC) to the Prime Minister, admits that we are in an industrial recession given the IIP numbers that came in.

Rao, however, feels that a 7% Gross Domestic Product (GDP) growth rate is still within reach, "for the next year though, we are going to have a much more serious problem," he said.
However, RBI has taken initiative to increase liquidity in the system. Central Bank has cut CRR by 150 bps to 7.5% (including earlier announced 50 bps) with effect from October 11, which will inject around Rs 60,000 crore in the banking system. Bankers feel that this is good news from RBI.

Finance Minister P Chidambaram said the 150 bps CRR cut will infuse Rs 60,000 crore into the system. "In about 10-12 days, substantial liquidity will be infused. However, further steps are required to infuse liquidity into the market. We recognise that flow of credit smoothly is vital to the system," he said. According to Chidambaram, banks are well capitalised and regulated.

"Deposits are safe, so there is no need to worry about deposits."

He said it is difficult to talk about the impact on broader economy. "We are confident that our economy will continue to grow."

Chanda Kochhar, Joint MD and CFO, ICICI Bank said, "The CRR cut announced by RBI today is very welcome and a needed step in terms of rupee depreciation. I think this should have a cooling effect on the call money and the inter-bank borrowing rates that have been prevailing in the recent past."

Inflation for the week ended September 27 has fallen to 11.80% as against 11.99% in previous week.

On the global front, it was a worst session across the globe due to fear of Morgan Stanley going belly up, which was down 25% on Thursday. Moody's put Morgan Stanley long-term credit ratings on review for a possible downgrade. Hedge fund is facing redemption to the tune of 40-50% of net asset.

Asian markets like Nikkei lost 9.62%. Straits Times and Hang Seng closed down over 7%. Kospi fell 4.13% and Shanghai fell 3.57%. Taiwan market was shut today.

European markets were trading sharply lower due to bad cues from the US markets. FTSE, CAC and DAX were down by 8-9%, at 4:22 pm.

This has been terrible week for the global markets as well. Asian, US and European markets dropped 12-25%, 15-17% and 13-15%, respectively. Nikkei, Russian and Romania markets hit lower circuits this week. Sensex was 0.5% away from 10% lower circuit.

Coordinated global rate cut announcement made this week, which also did not stop markets from falling. Asian currencies declined 10-15% this week against dollar. Yen breached 100 to a dollar mark this week.

G7 meetings will be held today and tomorrow in Washington to discuss the financial turmoil. US government could guarantee bank deposits.

Dow Jones Futures was down 222 points and Nasdaq Futures fell 22.5 points.

Back to our markets, Reliance Communication, ICICI Bank, Reliance Infrastructure, Jaiprakash Associates, Tata Steel and Suzlon Energy fell 15-21%.

However, there were only two gainers on the Sensex and Nifty. Ranbaxy Labs gained 4.71% and SBI rose 2.27%.

Market breadth was pathetic; about 549 shares have advanced while 2432 shares have declined. About 202 shares remained unchanged.

Total turnover traded was very low, it stood at Rs 68,100.82 crore. This includes Rs 14,727.85 crore from NSE Cash segment, Rs 48,279 crore from NSE F&O and balance Rs 5,093.97 crore from BSE cash segment.

BSE Realty Index underperformed other indices; tumbled 321.27 points or 11.30%, to close at 2,523.07. Indiabulls Real, HDIL, Mahindra Life, Peninsula Land and Anant Raj Inds fell 15-19.5%. Unitech lost 12.38% and DLF fell 8.79%.

Sectoral Indices

Index
Current Value
Change (%)

REALTY
2523.07
-11.3

METAL
6542.57
-9.25

CG
7983.04
-9.22

POWER
1855.04
-8.8

BANKEX
5319.5
-7.84

OIL&GAS
7272.31
-6.72

AUTO
3255.68
-5.43

FMCG
1860.55
-4.46

IT
2584.25
-4.33

HC
3213.28
-3.92

Metal Index ended at 6,542.57, down 666.89 points or 9.25%. Welspun Gujarat, Gujarat NRE Coke, JindalStainless and Tata Steel tumbled 15-22%. Hindalco, Jindal Saw, Bhushan, Sesa Goa and SAIL fell 6.5-11%.

Capital Goods Index was down by 810.33 points or 9.22%, to settle at 7,983.04. Elecon Engg, Jyoti Structure, Punj Lloyd, Areva T&D, Alstom Projects, Crompton Greaves and Havells India fell 11-20%. Siemens, BEML, BHEL and L&T fell 8-10%.

Power Index fell 179.04 points or 8.8%, to settle at 1,855.04. Reliance Infrastructure, Suzlon Energy, GMR Infra and CESC went down 13.5-20%. Reliance Power and Torrent Power fell 9-10%.

BSE Bankex plunged 452.77 points or 7.84% at 5,319.50. Yes Bank, ICICI Bank, Axis Bank and IndusInd Bank fell 11-21%. Karnataka Bank, IDBI Bank, PNB and HDFC Bank lost over 5-6%.
ICICI Bank was down 27.96% at one point of day but managed to close at 364.10, down Rs 89.4, or 19.71% after clarification from the bank and some buying at lower levels.

Chanda Kochhar, Joint MD and CFO, ICICI Bank, said the bank has adequate rupee and global liquidity of Rs 12,000 crore. "We have no international investments, only loans on our balance sheet. We do not use rupee liquidity to fund global activities."

Kochhar said the bank has not seen a scale-down in deposit growths. "The focus this year is on current and savings accounts." According to her, the bank has not seen an increase in NPAs, or Non Performing Assets, as the corporate sector is holding up. "About 90% of total loans are India related."

Commenting on the banks' UK operations, Kochhar said exposures in the market there are very small given our size and profitability. "NPAs at 0% in UK subsidiary. Over 90% of investment in
UK market are to companies with atleast 'A' rating."

Telecom stocks Reliance Communication lost 21.02%, MTNL -10.80%, Tata Communication -8.97%, Bharti Airtel -5.68% and Idea Cellular -3.04%.

Oil & Gas Index slipped 524.15 points or 6.72% at 7,272.31. Essar Oil and Cairn India fell 11-13%. HPCL, Reliance Inds, GAIL, Reliance Petroleum and ONGC lost 5-8%.

Auto stocks also lost the road. Amtek Auto fell 23.68%. Ashok Leyland, Hero Honda, M&M,
Exide Industries, Bharat Forge and Tata Motors were other losers. Index lost 186.98 points or 5.43% to 3,255.68.

FMCG Index was down by 86.78 points or 4.46%, to settle at 1,860.55. United Spirits, United Breweries, Dabur India, Tata Tea, Marico, GlaxoSmith Consumer and HUL were major losers.

IT Index fell 116.98 points or 4.33%, to close at 2,584.25. NIIT, Mphasis, Tech Mahindra, Patni Computer, Financial Tech and Oracle Financial fell 10-16%. HCL Tech, Wipro, Satyam and TCS were also losers.

Infosys Technologies has reported good numbers; it reported consolidated net profit of Rs 1,432 crore versus Rs 1,302 crore, a jump of 10% quarter-on-quarter and net sales of Rs 5,418 crore versus Rs 4,854 crore. However, the company has lowered its FY09 guidance; it is expecting FY09 EPS at USD 2.24/ADR, revised down from earlier USD 2.32/ADR and consolidated revenues are seen at USD 4.72-4.81 billion, revised down from USD 4.97-5.05 billion. Due to which, the stock was down over 11% at one point of the day. It closed at 1,226.70, down Rs 27.65, or 2.2% on the BSE.

S Gopalakrishnan, CEO & MD of Infosys said, "If one looks at constant currency terms our guidance for the year actually comes down to 16-18%, 3% drop becuase of the currency movement. Almost all the currencies against dollar have actually depreciated and that has had a impact, thats why 16-18%. Then when we look at what all has happened in the 4 weeks trial it is prudent to be cautious and that's why we have revised the guidance down to 13.1-15.2%.

The Indian Rupee has depreciated upto 49.16 to a dollar in early trade. It was trading at around 48.475 to a dollar.

Healthcare Index plunged 131.09 points or 3.92% to 3,213.28. Sun Pharma Advanced, Lupin, Bilcare, Opto Circuits and Dishman Pharma tumbled 10-17%.

Among the midcap stocks, India Infoline, Nagarjuna Construction, Amtek Auto, Bajaj Hindustan, Welspun Gujarat and Yes Bank fell 20-25%.

In the small cap space, Glodyne Techno, Sanghvi Movers, Sparsh BPO Svcs, Diamond Cables and ETC Networks slipped 20%.

Worldwide Wipeout:

Asian Markets ends in Deep Red : Hangseng dn 7.1%, Kospi dn 4.1%, Nikkei 225 dn 9.6%, Strait Times dn 7.3%

Carnage on Dalal Street continues

Sensex hits a new 2008 low of 10239.7; Nifty hits a new 2008 low of 3198.9

Worst weekly performance for sensex & Nifty ever; Sensex ends down 15.5% or 1950 points and nifty ends down 14% or 550 points for the week

Sensex ends down 800 points to close at 10527; Nifty ends down 233 points to close at 3279
CNX Midcap Index down 7%, BSE Small-cap Index down 7.3%

Bse Realty Index dn 11.3%, Dlf dn 8.7%, Unitch dn 12.1%, Akruti city 7.2%, Hdil dn 18.8%, Ib Real Estate dn 19.4%

Bse Metal Index dn 9.2%; Tata Steel dn 15%, Hindalco dn 11%, Sail dn 7.2%, Sterlite dn 6.1%

Bse Cap goods dn 9.2%; Punj Lloyd dn 18%, Bhel dn 8%, L&T dn 7.8%, Abb dn 7.4%, Siemens dn 9.4%

Bse Bankex dn 7.8%; Icici Bank dn 19.8%, Yes Bank dn 20.1%, Axis Bank dn 14.6%, Hdfc down 8.8%

Bse Oil & Gas dn 6.7; Reliance Ind dn 7.3%, Cairn dn 11.9%, Rnrl dn 11.7%, Essar Oil dn 12.7%

Index Losers : Rcom dn 20.3% , Rel Infra dn 19.5%, Suzlon dn 17.6%, Rpower dn 9.8%

Relentless selling in midcap stocks : Core Proj dn 42.4%, India Infoline dn 24.9%, Nagar Const dn 24.2%, Bajaj Jind dn 22.3%

Relentless selling in midcap stocks: Welspun Guj dn 22%, United Spirits dn 21.1%, Bajaj Finserve dn 20%, India Bulls Sec dn 20%, Guj Nre Coke dn 19.7%

Horrible NSE Advance:Decline Ratio at 1:11

Total market turnover at Rs 68100.82 crore vs Rs 75587.35 crore

Nse F&O Turnover at Rs 48279 crore vs Rs 57666.95 crore

F&O Snapshot:

Nifty futures adds 36 lakh shares in OI; ends at a premium of nearly 23 points on back of cash based selling

Aggressive short build up in Private Sector banking stocks

Metal, Infra, Telecom and Oil & Gas stocks continues to see short build up

Nifty PCR slips to 0.74 in today's trade

Aggressive short build up in stock fut ; more than 30 stocks adds more than 10% OI build up

Liquid mid cap stocks butchered with selling in cash market

Unwinding in 3400 put continues

Call writing continues in 3400-3600 call options

Regards,

Allies Financial Services

Gsm : ( +91 ) 9820191219

Yahoo ID : alliesfin9 & Alliesfin@Ymail.com

Website : http://alliesfin.blogspot.com/

Email Group : http://groups.google.com/group/alliesfin

Sms Service : http://www.smsgupshup.com/groups/ALLIESFIN

& other News group http://www.smsgupshup.com/groups/ALLIESFIN9

Thursday 9 October 2008

MARKET VIEW 10 OCTOBER 2008

Hello,

Nifty Chart indicates a short term technical bounce from current levels. As updated by sms & previous posts that if we break below 3800 then we may even test 3600 - 3400 levels. Nifty made intra day low of 3329 & managed to close above 3500.

If Nifty consolidates at current levels for few days then it may gather more momemtum for sharp run up. In markets we can see now that Distress selling has been happening as lack of buyers available, so the stocks are more hammered as due to losses made by foreign cos they need to sell holding's in India to generate liquidty. So worldwide selling is happening in all major markets.

Many world markets hace reached important levels from where they can get some bounce after so much hammers. Recently many World banks have cut Interest rates to boost liquidity in the system & some Central banks have even come up with some bail out packages before anything happens to their money markets.

Basically this is good sign in the near for many financial markets, before few months we have lot many -ve news in the markets like Crude rising, Inflation rising, Subprime etccccc But all these -ve news are being discounted now in the markets & also Crude has fallen, inflation easing, Bailout packages out , N deal signed, so all this are +ve signs for the markets in the days & months to come. It will take some time but things wil be normal soon.

Also above all Sebi has relieved P notes norms which people say was a serious cause of disaster & unwindings happened since last year October month, this year is October month again & NW WIL MARKETS RECOVER THIS MONTH OR NEXT MONTH, JOIN OUR PREMIUM CALLS SERVICES AS OUR CLIENTS KNOW IT !!!!!!!!!!

Another view : Gap theory says that markets can test 10200 & 9400 for sensex on downside.

A GOOD QUOTE : Your Friends told U to invest in Stock markets 4 ur old age,It worked wonderfully last year, within a year U look like old man, Now Try our Premium Calls Services to regain UR youth & money back.

Regards,

Allies Financial Services

Gsm : ( +91 ) 9820191219
Yahoo ID : Alliesfin@Ymail.com

Website : http://alliesfin.blogspot.com/

Email Group : http://groups.google.com/group/alliesfin ( newsletters + reports)

Stock Markets Alerts : http://www.smsgupshup.com/groups/ALLIESFIN

Stock Markets News updated on : http://www.smsgupshup.com/groups/ALLIESFIN9

Fun : Quotes, Jokes, Shayaris on : http://www.smsgupshup.com/groups/LUCKYSTAR9

THE REALITY BEHIND FII (Foolishing Indians in India)

Once upon a time in a village, a man appeared and announced to the villagers that he would buy monkeys for Rs10. The villagers seeing that there were many monkeys around, went out to the forest and started catching them. The man bought thousands at Rs10 and as supply started to diminish, the villagers stopped their effort.

He further announced that he would now buy at Rs20. This renewed the efforts of the villagers and they started catching monkeys again. Soon the supply diminished even further and people started going back to their farms. The offer rate increased to Rs25 and the supply of monkeys became so little that it was an effort to even see a monkey, let alone catch it!

The man now announced that he would buy monkeys at Rs50! However, since he had to go to the city on some business, his assistant would now buy on behalf of him. In the absence of the man, the assistant told the villagers. Look at all these monkeys in the big cage that the man has collected. I will sell them to you at Rs35 and when the man returns from the city, you can sell it to him for Rs50."

The villagers squeezed up with all their savings and bought all the monkeys. Then they never saw the man nor his assistant, only monkeys everywhere!!!

This is the What FII's Did with Indians ??????????

Regards,

Allies Financial Services

Gsm Phone : ( +91 ) 9820191219
Yahoo ID : alliesfin9

Website : http://alliesfin.blogspot.com/
Email Group : http://groups.google.com/group/alliesfin
Sms Service : http://www.smsgupshup.com/groups/ALLIESFIN

Be proud tht India has state like Gujarat & Leader like Mr. Narendra Modi ( A leader not Politician )

GUJARAT IN NEWS

World's Cheapest Car TATA"s NANO will be manufactured in GUJARAT & distrubuted in India & across d World.

According to the August 8 report of the National Council of Applied Economic Research, the richest city in India is now Surat , ahead of Bangaloreand Madras , with an average annual household income of Rs0.45 million (over$11,000 per year). 80 per cent of all diamonds sold anywhere in the world arepolished in Surat 's 10,000 diamond units.

The only non-Jews in the Tel Aviv and Jerusalem diamond bourse areGujjus.Between 2004-5 and 2007-8 Surat 's middle class doubled in size and itspoor reduced by a third.

The fifth richest city in India is now Ahmedabad, ahead of Bombay andDelhi , and miles ahead of Calcutta .

The percentage of man-days lost in Gujarat due tolabour unrest is 0.42 per cent, the lowest in India . Of Gujarat 's 18,048 villages, 17,940 have electricity.Under Chief Minister Modi, the face of industrial Gujarat is changing.

The world's largest oil refinery is coming up in Jamnagar . Owned by Reliance,it already refines 660,000 barrels of oil a day and will double that this year.

Thirty per cent of India 's cotton is grown in Gujarat , 40 per cent ofIndia 's art-silk is manufactured in Surat , employing 0.7 million people.

The world's third largest denim manufacturer is Ahmedabad's Arvind Mills.

A KPMG report says 40 per cent of India 's pharmacyindustry is based in Gujarat with companies like Torrent, Zydus Cadila, Alembic,Dishman and Sun Pharma.

The state of Gujarat's GDP has been growing at 12 per cent a year for the last 12 years, as fast as China 's.

India 's wealthiest man, Mukesh Ambani of Reliance, is Gujarati. Forbes says he is the world's fifth richest man, worth $43 billion.

Azim Premji of Wipro, is Gujarati. He is the world's21st richest man, worth $17 billion.

Ten of the 25 richest Indians are Gujarati.Some of the best business communities in India -- Parsis,Jains, Memons, Banias, Khojas and Bohras -- speak Gujarati.

The two great leaders of the subcontinent, the Mahatma andthe Quaid, were both Gujaratis from trading communities. One a Bania, the other a Khoja.

Gujaratis number 55 million, five per cent of India 'spopulation living on six per cent of surface area, but hold 30 per cent of allIndian stock.

Gujaratis account for 16 per cent of all Indian exports and 17per cent of GDP.

JAI GUJARAT - JAI BHARAT MATA KI!

-- Regards,

Allies Financial Services

Website : http://alliesfin.blogspot.com/ ( add to fav )

Email Group : http://groups.google.com/group/alliesfin ( add to fav )

Sms Services 4 Stk mkts :-) Indian mobile nos can receive sms while Foreign Nationals can visit below links for updates :

1. http://www.smsgupshup.com/groups/ALLIESFIN ( add to fav )

2. http://www.smsgupshup.com/groups/ALLIESFIN9 ( add to fav )


FUN GROUP :

http://www.smsgupshup.com/groups/LUCKYSTAR9 ( add to fav )

JAIN RELIGION UPDATES

http://www.smsgupshup.com/groups/JAINORE ( add to fav )

Monday 6 October 2008

Don't quit; persist and be patient

Anyone who undertakes a venture in any field of human excellence is bound to face not merely difficulties but often also frustration and even ridicule or lack of support, extending itself to a situation of his not even being noticed, let alone being approved. He, who having undertaken this journey after having analytically comprehended his true capacities and talents in the chosen field, would find strength from these lines of the poem Don't Quit: "When things go wrong, as they sometimes will,When the road you're trudging seems all up hill,When the funds are low and the debts are high,And you want to smile, but you have to sigh,Rest, if you must — but don't quit".

Indeed tough times don't last but tough people do. Failures and repeated failures, besides instances of discouragement and repeated discouragement, should be met with repeated attempts and renewed courage. This concept is epitomised by the incident concerning king Robert Bruce, who after many defeats in war, on observing a spider repeatedly attempting to make its web till it succeeded, recoups and marshals his forces again for the final and successful battle. These lines of 'Don't Quit' are, thus, doubtless not mere theoretical rhetoric: "Don't give up, though the pace seems slow - You might succeed with another blow".

The intelligent seeker would also see through the vain boasts of the shallow and the overconfident. He would realise the force in Henry Thoreau's observation: "The mass of men lead lives of quiet desperation". It is a pity that, very often, even the intelligent are overawed by sheer glitter and make-believe, as were the many terrified onlookers, in that didactic story, who stood rooted 'appreciating' the 'thin' robes of the 'king emperor', until a mere child exclaimed, "Why is the emperor naked?"


Not seeing any light at the end of what may appear an unending tunnel, the truly courageous would know how, as noted by the poem, often "success is failure turned inside out" and about those tragic cases where "often the struggler has given up When he might have captured the victor's cup And he learned too late, when the night slipped down,How close he was to the golden crown". The path to excellence is indeed, as difficult to pass over as a razor's edge. Truly, the message for the doubting, yet true seeker, would be, "Don't ever quit"!


Regards,

Allies Financial Services

Gsm Phone : ( +91 ) 9820191219

Yahoo Chat ID : Alliesfin@Ymail.com

Website : http://alliesfin.blogspot.com/ ( Market Summary & Live charts )

Email Group : http://groups.google.com/group/alliesfin ( Reports & other info )

Sms Group : http://www.smsgupshup.com/groups/ALLIESFIN ( Market alerts )

& Another Group http://www.smsgupshup.com/groups/ALLIESFIN9 ( Market news )

AlliesFinServe #StockMarket #Bharat Telegram.me/AlliesFin's Post

Pre Market Observations and Info https://whatsapp.com/channel/0029VaPrz8AIXnlv64xTjs1f By: via AlliesFinServe #StockMarket #Bharat Tele...