Be Cautious !!!
It's time to be very cautious. A slower start, mild move and all of a sudden blood everywhere.. I had mentioned about the volume slowdown in yesterdays raise, and today there was no speed breaker for bears.. The closing all around sensing something big to come around. I fear the fall which was expected has started before and quickly.
On today's stock move, it was clear that the market has smelled something and to add fuel to the fire US Dow almost undergoing a blood bath with more than 200 point slide. I had suggested to avoid reliance and watch the stock tomorrow. if breaks and trade below 1010 then it is ready for a killing bear ride.
Tatamotors all of a sudden lost all it's momentum and todays fall indicating that the slide may be deeper to 590 level. Infra stock like GMR making new year low with Unitech again bleeding towards 63 level.
For Nifty the previous low of 4766 will be the only hope, on account of gap down if market opens below 4765, i am expecting a bounce around 4730 , i mean just a bounce. Tomorrow's close on market will give us a clear picture as we are for 4500 or 5000.
Nifty Spot level for the day:
On today's stock move, it was clear that the market has smelled something and to add fuel to the fire US Dow almost undergoing a blood bath with more than 200 point slide. I had suggested to avoid reliance and watch the stock tomorrow. if breaks and trade below 1010 then it is ready for a killing bear ride.
Tatamotors all of a sudden lost all it's momentum and todays fall indicating that the slide may be deeper to 590 level. Infra stock like GMR making new year low with Unitech again bleeding towards 63 level.
For Nifty the previous low of 4766 will be the only hope, on account of gap down if market opens below 4765, i am expecting a bounce around 4730 , i mean just a bounce. Tomorrow's close on market will give us a clear picture as we are for 4500 or 5000.
Investors just stay away for at least till this week.
Nifty Spot level for the day:
4730 - 4766 - 4846 - 4890 - 4904
Posts
