Red Rain in the Indian Stock Markets
20 June 2008
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Nifty CMP : 4347
Its hard to say for the investors that we are now in the zone of bear market. It is unable to judge how long this bear market exist and how long downside we would go. But one thing is sure when the oil reaches its top most peak then there is a chance of reliving order from the Tight Bear Grip.
The charts are looking extremely weak and ugly as we are constantly shouting in our free sms tips ( MarketBits ) and in marketcalls right from nifty below 4986.
So where does the support lies?
Remember In Bear markets there is nothing called Supports and recovery is possible only after this Hurricane. Resistance hardly lies at 4450. A Breakout and sustain above that level can lead to a further fresh buying until then a selling will be witnessed in our bearmarkets.
So if you are Investors dont be angry on Markets or our Indian goverment. Because the fault lies within yourself and you are responsible for all the losses you made in this market.Even though market witnessed bad pressure you remain invested just for the sake of greedy gains even in this rough situation.
Be aware that the situations are going to be more harder as the Oil is not in the way to go downwards and witness ever increasing. As Per my view Start Building you portfolio slowing and steady as you have more time to join with the hands of bulls. Start Building from the levels of 4200 is good at current levels if you are a fresh investor. Because the next long term supports coming at 3800 levels. So accumulating stocks from this level looks healthy.
So whats up for the next week?
Its hard to predict but right now US markets tumbled Friday on escalating worries about the financial sector and rebounding oil prices. The Dow Jones industrial average sank more than 150 points.Oil futures rebounded Friday as Pentagon officials said a large scale Israeli military exercise in the Eastern Mediterranean early this month was intended in part as a demonstration of Jerusalem's ability to attack Iranian nuclear facilities.And traders are requested to remain hedged
and to cover their shorts if we open gap down on monday(as requested in our SMS community Marketbits). Please dont Initiate any fresh Short position on monday in nifty. The message is loud and clear recover " Cover your shorts for the sake of nations prosperity and sit in sidelines and listen to the markets carefully and grab the word that market thows to you"
Do remember "Sun Shines after the end of rainydays. But unfortunately red rain is expected possibly on monday"
Regards,
Rajandran R
Author – Marketcalls
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