Home > NIFTY Strategy > Markets have a downward bias

Markets have a downward bias

Wednesday, November 21, 2007 Leave a comment Go to comments

Yesterday closing was not encouraging and markets now carry a downward bias in the short term. Large caps are looking listless and are not showing any momentum. As a result a downward drift to 5600 in the short term looks likely. One can slowly accumulate  stocks on this correction but I’d be wary of big ticket buys! Also, it might not be a good idea to buy “hot” stocks on sharp corrections.

We need to closely watch how FII selling gets absorbed by the domestic guys. If global troubles persist, global guys might want to book their profits in emerging markets and keep some cash handy.

Religare is listing today and might be a “big bang” listing. Once can play it similar to how we played Power Grid.

Advertisements
Categories: NIFTY Strategy
  1. sagecapital
    Friday, November 23, 2007 at 10:08 pm

    Mitesh- We don’t “predict” but “react” to price moves.

  2. sagecapital
    Thursday, November 22, 2007 at 7:45 am

    Now you can short almost anything! We expected a drift but it was fall from the cliff!

  3. Thursday, November 22, 2007 at 7:38 am

    Buy the PUTs…

    SHORT on SBI, SAIL, AXIS, RNRL, JP HYDRO, AKURTI NIRMAN, IFCI

  4. Veera
    Wednesday, November 21, 2007 at 7:10 pm

    Sage

    the markets got hammerred today….all the big ticket buys like reliance energy, reliance cap,sterlite,kotak mahindra bank are down…..are they good pickings at this price?
    Do you see the market going down tomorrow again?

    What do you feel about JAI CORP, the share went up to 14k from 1k in about 3 months time and then got split, i made some decent money in that as i was not too greedy and was happy with a 100% return ( I could have got 500% return though!!) but now a days it seems to be behaving like a normal share, earlier it always broke the upper circuit with all buys.

    Reliance infrastructure i guess is also like that , what do you feel

  5. Mitesh
    Wednesday, November 21, 2007 at 6:33 pm

    Hi Sage,

    I have been reading the tips on your site at regular basis now. I always keep wondering how you guys are able to predict the market. Though I do trading frequently for diff stocks, still I don’t know when the market is going to collapse or by how much.
    If possible try to share with readers about the market uptrend / downtrend at high-level.

    Thanks in advance.

    Cheers,
    Mitesh

  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: