Dear Readers / Visitors,Markets these days are trading in very narrow range after opening gap up or gap down ( due to global cues ). The real moves in markets are seen in the later half of trading session & the move is being very wild in either side.
Today selling pressure was seen in ADAG group stocks in early morning trades & in later half they were hammered in range of 5 to 15 % down. Also hammering was seen in stocks who have been rallying for no reasons like Suzlon, Dlf, Acc & many other small & mid cap stocks. We have sent alerts yesterday by sms to our GROUP members to stay away from such small false rally. Hope you all have benefitted due to such alerts well in advance.
Today a very dirty game has been played with Investors money in stock like Satyam Computers Ltd on news of stake buy in Maytas Infra Ltd & later on denying the news. The stock was down only 30% based on such rubbish move from the management. The final looser is the long term investor & short term trader with long positions. Such over night move can really help investors to loose hard earned money. But KUCH BHI NAHI HO SAKTA HAI IN INDIA.
Yesterday we have updated charts of RELIANCE INDUSTRIES indicating profit booking range from Rs 1350-1400. But please remember we have not asked to go short in that stock.
2DAYS WRAP UP IN BRIEF :
Sell-off in metal, telecom, power, capital goods stocks as well as in Reliance Industries and sharp cut in Satyam Computer has pushed the benchmark indices sharply lower. Downtrend in European markets and US futures also added some fuel in part to negative sentiment.
The markets had started the day with gap up but immediately indices turned extermely volatile. In the second half of session, finally both benchmark indices slipped into red following weak European markets and US futures. The Nifty went below 2950 as well in late trade.
The markets had started the day with gap up but immediately indices turned extermely volatile. In the second half of session, finally both benchmark indices slipped into red following weak European markets and US futures. The Nifty went below 2950 as well in late trade.
The Sensex has touched an intraday low of 9,682.91, before closing the day at 9,715.29, down 261.69 points or 2.62% from previous close. In the beginning, it tested 10,000 mark.
The 50-share Nifty slipped 2.87% or 87.40 points, to settle at 2954.35, after touching an intraday low of 2943.50. It was hovering around 3000 mark for major part of the day, but profit booking pushed below the same level.
The 50-share Nifty slipped 2.87% or 87.40 points, to settle at 2954.35, after touching an intraday low of 2943.50. It was hovering around 3000 mark for major part of the day, but profit booking pushed below the same level.
Draggers in today's trade were Reliance Industries, Bharti Airtel, Reliance Communication, Satyam, BHEL, SBI, L&T and Reliance Infrastructure. However, ICICI Bank, Infosys, ONGC, HUL, HDFC Bank, Grasim and Wipro were on buyers' radar throughout the session.
We have updated charts of Sensex EOD basis, which gives us hints that markets were very close to Resistance or Profit booking zone. The two key technicals where profit booking was hinted as trendline or channel resistance & another 61.8% fibo retracement levels.
Any close above the trendline resistance can help markets to move even higher else profit booking would remain the key in next few trading sessions.
MARKETS UP OR DOWN : A SMILE ON CLIENTS FACE THROUGH OUR PREMIUM CALLS. We do give Premium Trading Calls to our Paid members, for more details on this contact personally & get subscription details on this web.
Good day , Happy Trading
Regards,
Allies Financial Services
Website : http://alliesfin.blogspot.com/
Email Group : http://groups.google.com/group/alliesfin
Allies Financial Services
Website : http://alliesfin.blogspot.com/
Email Group : http://groups.google.com/group/alliesfin
