Three Black Crows and Red Bloods
1 July 2008
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Nifty CMP : 3896.75
Technicals:
It is witnessed from the charts that once again our market ends up with Bearish Three Black crows pattern. If you witness the nifty movement right from May,2008 then you would find that three black crows pattern occured for 4 times which might be a record history in indian stocks markets. And the maximum downside must be left at anywhere around 3500 which is the
50% of fibonnaci retracement levels from Nifty’s all time peak.
50% of fibonnaci retracement levels from Nifty’s all time peak.
Towards Investors:
Investors nowdays looks very bored in this bear market. And for me too. Talking about the Bear markets look quite bored nowdays.
So to keep it short, anywhere around 3500 is possible for some time, till then keep you patience. If you are not able to keep your patience then go for systematic investment in indian markets,say 10% of investment for the next 10 days. Accumulate your favorite stocks in a systematic manner is a more intellient manner than buying stocks in one single go.Those who fear to buy stocks in this bear markets,i like to say that ” You tried buying at 6000 Nifty levels then what is the harm to try at 3600-3900 levels”. Almost all the stock prices are available at dead cheap prices which you never dreamt before. And it is wise to purschase low P/E stocks available at attractice price.
As said by UMA " Its time to buy our India back from FII's", as the offer is valid only till STOCKS lasts.
Really It is shopping time!
Regards,
Rajandran R
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