+ Signals of market bottoming out at around 2600 on Nifty and 9000 on Sensex are becoming more clearer now. We were expecting 2620 over last two weeks and Nifty hit low of 2640 approximately and bounced back.
+ Many stock pundits like Shankar Sharma and few others have been continuously commenting on media that Indian Stock Markets would be hitting another low in weeks to come. Stock markets indeed hitting a new low or not is altogether different topic now, I feel media is giving such people undue advantage and excess coverage than they should infact get and further we people “investors” are paying lot of heed to such people. I have around eight years of experience in equity markets and have seen such people rubbishing the bull markets from the day it started, and market kept rubbishing their views!
+ Everyone knows that what goes up has to come down some day and there’s no credit which these people are eligible to claim just because Sensex fell to 7500 from 21000. There’s something called “chance” if one keeps repeating same thing again and again and that event happens some day is it worth applauding?
+ Some people may find the above too harsh and critical. Please post your comments so as to get a public view as well! Do not forget to comment, it’s a request.
+ RBI surprised everyone by not cutting the interest rates! They should have cut rates by atleast 100 basis points on all bench marks, this would have forced people to come to markets as bank FD’s and debt markets would have become too unattractive to bet upon.
+ Corporate results are not as bad as everyone was expecting which is great positive for the markets and these results have probably halted further selling. Probable larger than expected bailout package by Obama is helping the US markets and we are definitely coupled to them. There was war fear in our minds earlier which has now evaporated a bit as Obama is using his full metal to bring down the Terror capital of the world “Pakistan” to its knees! Yes these very factors tend to make me believe that it’s worth investing.
+ Do not forget to take advantage of the Save – Win – Earn Offer which has been launched specifically keeping the Tax Savings season which is already on. Nifty should break 2900, the recent rally may have come in due to short covering as the expiry has arrived. If 2900 is taken out then we should see the biggest resistance at 3000 on Nifty. Once again: do not forget to comment.