Live Market

Saturday, August 6, 2011

Where is the Bootom?

The Friday is marked as 'BLACK FRIDAY" as the world market were shook very hard and bleeds in red.This is not unexpected!!

We were expected this fall well before and cautioned in this blog many times not to remain longs.even our paid clients were fed up by our sell call almost every day.

We also gave few write and in facebook..About the Global economical crisis and its impact in market...(why market is bleeding red.) A diligent follower of this blog could have at least averted the huge loss,that would have caused by just remaining in longs!! Many emails we received from the readers expresses the same.

We are happy one way, our post saved so much money of many friend also sad the market is still looking very fearful/untouchable as the bottom is unknown.The technical parameters indicates more selling on card.The Monday market too add more selling..

It is the best, to stay away till the market find its bottom..or unless,until if you are very much sure, this is the bottom!! you can get into.

The Nifty we expect to take support in 5048 level and may bounce steeply to 5400 the upside gap is unfilled..But we also remember, there is a huge gap on the down side left unfilled , during when the congress won the election....So ,one can keep this SAR@5048 and go long..if SAR triggered/breakdown the down side also you may gain..So the idea is to have an open mind for both possibilities ,We can gain.Don't risk your trade without stoploss now.

The Banknifty price were discounted then expected...If, it break down the 10,000 mark the next support it has in 8300 level only.As we are not sure of this bottom...and the situation right now is ..Anything may happen...The market may face the Falling knife syndrome so be cautious..when you are not sure about the trading just stay away...Not loosing money is important than gaining at present the market is in such juncture..

1 comment:

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