Market Outlook 13th Oct 2008

Rocking last market outlook Nifty target almost attained. UNITECH, EDUCOMP and MOSERBEAR shorts rocked. 3600 put given on SMS(JOIN by Sending JOIN WarrenStocks to 99801 99801) became multibagger .

Remember a number of persons were pridicting the fall but but but …. When is Important

Global stock markets crashed this week on fears the ongoing financial crisis will lead to a deep and prolonged recession. Most bourses lost between 15-20% of their value as the Dow finished at levels last seen in 2003. At the end of Friday’s session, the Dow stood at 8451 while the S&P closed at 899. The New York indices bounced off key support levels (8000/840) during Friday’s trading and thus prevented a full-blown market panic. While there was no single day decline that warranted the term "crash", it’s clear that these markets capitulated this week.

Markets will now attempt to form some kind of bottom over the coming weeks through a process of rally, failed rally, and retesting of the the Oct 10 intraday lows. This week looks mixed at best as the early part of the week may see more downside

As predicted, India’s markets got clobbered last week as the Sensex shed 16% and Nifty posted a 14% loss as the credit freeze went global. The Sensex closed at 10,527 while the Nifty ended Friday at 3279. I’m not optimistic about prospects this week since Mercury’s direct station occurs in fairly close tense aspect with the NSE’s natal Saturn. This will make rallies fizzle fairly quickly and give more courage to those who are shorting the market. I think some intraday trades below 10k/3100 is quite possible although I do not expect any kind of massive decline here. By Friday, we’ll probably be modest lower from current levels.

NIFTY levels : above 3138 it can see 3540-3811-3927 below that 2633 sure

Stocks For Trading:

  • Hindalco

  • Sesa Goa

  • Tisco

  • ICICIBANK – One can GO LONG with SL 340

  • SBI

Investment Pick-Yes even in these times because these times are best for Investment:—>>Spicejet(14 rs) and DCB(28 rs)(buy from profits made in 3600 put and forget you will mint money)



We are paying for rich nations’ mistake: FM


Warning that developing countries “will suffer for no fault of theirs” from the recession visible in the US and the West, India on Sunday asked the World Bank to play a bigger role to ensure financial resources for emerging economies.
    “The crisis will necessarily impact upon the global availability of the financial resources for development…A global recession will sharply contract the demand for exports of many developing countries, adversely affecting the growth prospects. The developing countries would suffer for no faults of theirs,” finance minister
P Chidambaram said in a statement. “They (developing economies) did not cause the contagion. Many are not equipped to face the consequences. We need a global effort, particularly in countries with developed capital markets, to review financial oversight and regulatory mechanisms,” he said. Arguing that sufficient attention has not been paid at this year’s meeting towards millennium development goals, Chidambaram said, the countries were most vulnerable to the food and fuel price increase are those who would most likely miss the target. — PTI 

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