Image via WikipediaHello friends,We wished to see market reaching a new high this Diwali but it may or may not happen so, quite often man proposes and God disposes ! Participants are nervous at this juncture and market reaching there so fast, they will book profit and avoid carrying risk this festive season. The psychology of the people are technicals, and it says the market is yet to go down further whether we like it or not, Dr.Geeta. But it is yet bullish in long run. It is just to make my readers cautious, they are free to act as per their wisdom and not mine ! Even in this declining short term trends the followings are good buys:
SASKEN
PETRONET
PANACEA BIOTEC
GULF OIL
INDIA BULL REAL ESTATE
More Later,
Regards,
Jagruti.
2 comments:
Dear Jagruti,
With due respect to your acumen as an experienced stock-trading professional, which I sincerely appreciate, I would only like to submit the following for yr kind perusal:
1. Everyone knows that market can take correction at any point of time especially when so much of FII hot-money is pouring in, when Diwali is around the corner and when people can and will book profits.
2. Every correction is healthy so on the way to reach the peak, so some corrections due to profit booking is bound to happen and it is welcome because it is natural.
3. Instead of a cautionary tone, when you talk abt 1,500 point correction, that becomes, according to me, scare-mongering.
4. When Every analyst worth his salt is talking abt 5900-5950 being the base and index hovering in the range of 5900-6200, a drop of 1500 at sensex (approx 400-450 points at Nifty) from the present 600-6100 range is surely worrying, to say the least.
We all hope that this large correction doesn’t happen at one go but if it does, what can we do except to be abundantly cautioned, thank you.
If it doesn’t happen, and only time will show/prove this, we’ll know if your prophecy-cum-warning is cautionary or scare-mongering.
At that time, one of us should be ready for an apology.
Right?
No offence meant!
Hi Doctor Geeta,
I am so happy that someone like you takes keen interest in my blog and takes effort to share the views.
I am sorry if you felt it scare mongering instead of caution. It was not I meant for sure.
you must be aware,I write the blog not for any personal benefit and it is based on a few technical studies like support-resistance, averages, stochastics, RSI, technical patterns, etc.
If i wanted to really scare monger, I would have said any big fall and why just 1000-1500 ? It is based on some studies.
There is no EGO isssue whether it happens as I say or not...it is only what i think may happen.There are also the chances of technical analysis going wrong.
Whatever general logics we apply like Diwali, other profit bookings etc. without the base of mathematical/ statistical price studies, will certainly go wrong.
And you will also agree that the loss in profit or no profit is certainly better than clear total loss !!
I just warned people and my friends, the blog readers in the bonafide interest. If one crosses the road blindly,chances of accidents are more than if one crosses the road observeing signals(traffic lights)!
I am glad that you write, it gives me chance to explain...
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