hi ,all...whoever went through my views would have been experiencing a stunning experience,in last 3 days.responding precisely what i wrote,(but ,too fast ,even for my thinking)sensex and almost all indices,came back to the 200 day m.a.,and look how they were supported yesterday,in my opinion,we would have bottomed out,,and should we enter a mid-term sideways face,a smart pullback rally should start in a day or two.,on of important view i have on yesterdays market,was the lows most of the f&o and active midcap stocks made,for us technicians,mass --common man is the key,in studying technical analysis,now , who sold on at yesterdays lows??.,,,take a glance at few stocks and their price range for last 4-5 days,,,,
1)rnrl 220 .... 79
2)rpl 230 ..... 106
3)jp hydro 125.....55
4)alok tex 100....46
5)rel. capital 2700...1310
6)chambal ferti. 80 .....31
7)wwil 84......35
now ,compare those un realistic range,,,and this list is endless...but poses a terrible picture..at first glance it seems as if indian economy is getting bearish signal in advance...BUT... my question is ,who sold at those lows??? was it he???, my common man??? ...the answer is simple but a sure one...NO NO NO ...THOSE STOCKS WERE SOLD BY BROKERS...OR BY EXCHANGES ON BEHALF OF BROKERS.. as those stocks were kept as a margin fund for the exposure given to the SPECULATOR IN F&O, in my view the mass was infact rushing with cheques and demand drafts...as fast as he can to buy at those cheapest levels...so al in all ..what am i saying??? market is going to bounce back very sharply,,,it can and should form some accmulation price- patterns,,,,different from stock -to -stock.., taking some time ..but its a great opportunity to enter the great india growth story...as always deep cuts like this has proven in past few years....history will repeat itself ..here too....bhavesh naik ....23-01-08 8:15 am
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