MarketFastFood – 081118

 

– The recession fears are getting bigger than life day after day. The breaking news is that Citi Bank could lay off 50000 employees in the days to come in a effort to save the bank from doing a Lehman. This certainly is not a good news for the markets and effect of which is right now being felt on the Dow. The jobless data which the US markets keenly watch are set to go bizarre if such lay off’s continue.

– Some targets were sent on MFF Free SMS Group today and the levels look absurd. Absurd in the sense they are predicted much lower than the present closing price. Again absurd as those levels look beyond any fundamentals. The levels are purely from the Technical Charts. As a chartist the levels were given, with may be achieved as have been done many times earlier. We may test 2525 on the Nifty is Dow keeps haunting us and further the previous lows of around 2250. No doubt I would still recommend investors to buy with long term horizon.

– Market would give lot of trading range for traders to make some money in the process. The range I now estimate to remain till the elections is between 8000 and 12000, if you consider the targets set in the above para then the range would break down but the expectation’s are that we would very fast enter into the range every time we break out.

– Change is constant and MFF has been changing regularly in order to improve. The last change was that the website www.MarketFastFood.wordpress.com is being updated regularly now. Here is the new proposal: The pdf file system of MFF would be done away with. The updates would be posted as a simple file on email groups and the same would be posted on the above website under the category MarketFastFood for future reference. Posting on all other websites except the above would also be done away with. Which means instead of visiting other sites just visit MFF website. These changes would be applicable from today itself. The changes are being made in order to save lot of time on my side which would be utilised for betterment of us all. Hope everyone co-operates.

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