Home > NIFTY Strategy > Market Party-US plays the spoilsport

Market Party-US plays the spoilsport

Sunday, September 9, 2007 Leave a comment Go to comments

US markets seem to have caught a full blown cold. The jobs data showed a cut of 4000(first in last 4 years!) whereas Wall Street was expecting a 100,000+ rise. US markets were down 250 points.For the first time, people are actually dreading “recession” in the US.The nervousness is back in the markets.

Now everybody expects the markets to open weak on Monday but more important to observe might be the buying support coming at lower levels. The bears might be sensing an opportunity here while bulls might not want to give up on past week’s initiative.As stated before, 4350-4400 are important levels for the short term traders on the downside.On the upside 4530 -4550 are the hurdles.A real surprise might be a positive closing for the NIFTY!

I personally feel that a lot of long term players might use this opportunity to “accumulate” stocks at lower levels.Short term players might book their profits and get into a wait and watch situation. IT might be particularly weak as a US recession has direct impact on IT services companies.It might be hard for Indian markets to decouple themselves from the global markets in the short term.

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Categories: NIFTY Strategy
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  1. Tuesday, September 11, 2007 at 8:38 am

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