PANIC !!!! PANIC !!!!!!! PANIC !!!!!!!
This is word that suits market in current situations. After making new high of 21200 on 10 January, 2008 we are now down by more then 2200 points on sensex. Stil we are not certain til where this pain could be but always we can always use technical indicators.
We are now @ 19000 levels we can see on charts 18500 as very important support for markets as its 100 Dma & any close below that we can 17500 which is trend line support.
But this seems to happen in very rare case but we cannot rule out tht too. We have to highly cautious while trading as the markets would be highly volatile in days to come. So traders have to take undue care as in some cases Targets will be achieved after hitting stop losses.
From next week we can see some value buying as we are almost 10 to 12 % down from the recent top of 21200 so we can see value buying in selective stocks. Keep stock specific approach & avoid any small & penny cap stocks as they are available cheap.
Selective buying can be done in few large cap stocks like
Reliance pack : Ril, Rpl, Rel Capital, Rcom, Rnrl
Enigneering stocks : Lnt, Abb, Siemens, Punj Llyod etc
Banking Stocks : Sbi, Icici bank, Kotak Bank etc
Please remember all things u buy think to keep them for minimum of 3 to 6 months view.
Trading calls for Monday :
Buy Sbi around 2350 levels & hold as investments as in Sbi we have rights issue of 1 Share for every 5 shares held @ 1590. We would ask people to subscribe to the rights issue.
Intra day call Buy Gtl ltd cmp 254 sl 245 tg 265 - 270
Short term Delivery based tg 300.
INVESTORS PLS DONT PANIC AS NOTHING WRONG WITH OUR FUNDAMENTALS AS ITS JUST SHORT TERM LIQUIDITY CRUNCH, US SUBPRIME EFFECT & YEN CARRY TRADES
Good Day
Happy Investing
Regards,
Axit Shah
Equity Advisory Desk ~ Allies Financial Services
Mobile Gsm : ( 0091 ) 9820191219
Yahoo ID : alliesfin9
Website : http://alliesfin.blogspot.com
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