As indicated yesterday that a sustained fall below 12900 will bring the lows of 12514 in threat.
The markets reacted as expected and assaulted the lows of 12514 and made a new low.
As said the figure of 11900 looks valid and the markets are likely to make a new bottom again.
However the bailout fallout has been morolessly discounted by asian peers yesterday by seeing the dow futures , so the erosion in respect to dow jones looks small today.
However technically the markets are weak and will drift towards 12300- 12100 and will try to find strong and crucial supports at 11900.
Astrologically mercury has turn retro after long time and is regarded as the ruler of the mind –and one needs to be very cautious and alert , as it will make one commit big blunders , resulting in huge losses
We have already alerted yesterday via sms about the same .
However for dow jones this fall is just the beginning , we have already said 10 days ago about dow jones levels , it looks ok for 5000
Similarly cac , dax , futse , all are headed to 3300-3000
But now the point to look is not for trading but for investing and the screen is providing whole lot of oppurtunites – you only need to identify them.
Remember one thing –“ DISASTER FOR SOME ONE IS OPPURUNITY FOR ANOTHER “
So do I find huge opportunities in the current scenario..
History is repeating itself,..If People remember in 2001 CRISIS JP ASSO WAS 11 RS , WENT 2500 IN 2008 , MCDOWEL 15 , WENT 2100, ROLTA WAS 8 WENT 900
Anyways the supports for the nifty is at 3700 levels and resistance at 3900 levels
The supports or the sensex is at 12010 levels and resistance at 12900 levels
Stocks to watch
Icici bank looks weak and looks ok for 380 odd levels in days to come
Hdil looks weak for 80 odd levels in days to come
Jp looks weak for 90 odd levels in days to come
And many more sectors and stocks are waiting for a milestone crash…?
We are writing from past 1 month…still until seen , not believed.
Anyhow ,
The worst is yet to come or over ,a big big move coming in october,nifty 3000 or 4800,sensex 9500 or 16000
We have maintained 3600 as an important support and a target for NSE index.
3600 was also an important buy level.
BUT if 3600 is breached in a rapid manner 2600 is the next logical
support and target NSE index would face.
The chance that 3600 may break today or in coming days is increasing,
thus investors should wait a little while more before deploying their
funds for purchases,
even though a lot of companies have become very attractively (mouth
water-ingly) valued even at current prices.
India: Are You Ready For The Wall Street Type Meltdown?
Thanks to some partisan voting, the House Of Representatives rejected the Financial Bail-Out Bill called "the Paulsen Plan" last night. The Dow sank 777 points, with unexecuted orders continuing to be matched in post market hours for atleast 20 minutes. The last minute fall worked out to 100 points on the Dow.
Financial circles in Bombay are already in panic. CNBC-TV18 reports that call money rates have shot up to 15 per cent, one month deposit rates to 13 per cent and one year deposit rates to more sanguine 11-12 per cent. The biggest part of the fear factor is that no one knows the State in which Private Commercial Banks, Private Insurers and NBFCs are.
Are these the aggressive Buyers for deposits and calls in the market? For the fear about PSU banks is limited, because most investors consider them as pseudo extensions of the GOI and so as good as Treasury..but not the private sector counterparties.
The crisis in the US Banking system has been brought about by a lack of counter-parties which can be trusted by the Banks. Hence, the wheels of credit have been stuck for months. And counterparties are suspect because no one knows how much toxic paper they carry on their books.
After all Government across the Atlantic and in US have been trying to engineer shot-gun weddings or as they call a marriage a day events to bail-out banks. One simply cannot say which Bank caves over today and who follows tommorrow.
Jim Cramer, former Hedge Fund manager and now CNBC Mad Money host gave a simple suggestion-let FDIC announce that deposits upto $ 1 mn (Rs 4.7 crore) will be insured against the present limit of $ 100,000 (Rs 47 lakh).
This will allow depositors to refrain from panic, and not causing a run on the Banks across the nation. The Insurance premium for these Deposits will be paid by the Banks which may not exceed 10 bps on the principal amount. This move will bring some sanity to the Banking system.
Now look at India. DICGC insures deposit upto Rs 100,000. In the past 50 years DICGC funds have never been called upon, so its finances should be ship-shape. Accordingly, the GOI should announce an immediate increase in the amount of Insured Deposits to atleast Rs 1 crore.
This will bring immeasurable confidence to the private banking system in the country. The last thing the GOI wants is Depositors running amuck across the Banking space.
If we continue to sleep, we will have repercussions similar to the US Banking system and that reads as follows:
This doesn't happen every day, and losses are also possible. But as this panic spreads — and as the speed of events accelerates — we're seeing these kinds of situations pop up more and more frequently. The reason ...
The Credit Crunch Is Now Reaching an Explosive Phase
More so than at any other time in our history ... and perhaps more so than in nearly every other country on the planet ... ours is a debt-addicted society.
As soon as the debt dosage is reduced, our economy suffers withdrawal pains. And if it's cut off cold turkey, the affected industries go into convulsions — precisely the drama that's unfolding before our eyes:
Credit markets are choking. Sales are collapsing. Companies are folding. Jobs are vanishing. Not next month or next year. Right now.
Just look at how Washington has panicked! In less time than it takes to appoint a dog catcher, Congress has decided to pass the most radical, most grandiose and most expensive financial rescue package of all time.
This unprecedented rush to judgment wasn't just to help members of Congress run back to their election campaigns; it was driven by the utter force of the credit market convulsions.
Specifically ...
Companies are getting cut off. Large corporations regularly issue commercial paper — short-term IOUs — to raise the cash they need to finance their day-to-day purchases, meet payroll, even pay the electric bill.
Before the crunch, in the three years through 2006, they raised an average of $223 billion per year in new money with these IOUs and similar kinds of paper, according to the Fed's latest quarterly estimates.
But now, their access to that instant cash has virtually vanished: In the 12 months ending June 30, not only were they unable to get any new money from this source, but they actually had to pay back $361 billion more than they could raise.
In this kind of credit implosion, virtually unheard of in modern times, the only choice for many companies is to promptly lay off workers, shut down operations or make a beeline to the bankruptcy courts.
Home equity loans are virtually extinct. Not long ago, consumers could go to almost any bank, borrow on their home equity and walk off with a wad of cash to spend. In 2005, for example, they took out $1 trillion in home equity loans.
But now, that giant ATM machine has been virtually unplugged: In the second quarter of this year, the pace of new home equity lending plunged to an annual rate of only $80.8 billion, down by a whopping 92% from its 2005 level. And this credit shutdown is a disaster for all companies that do business with consumers directly ... or indirectly.
Local governments are getting shut out. State and municipal governments typically have easy access to credit because of their tax-exempt status. No more! Now they're being forced to pay more or are dropping out, sending shock waves of local budget cutting across the country.
Detroit is getting slaughtered. In the first three weeks of September, car sales plunged 34% compared to the already-depressed level of one year ago. Why? Again, because of the acute and chronic shortage of credit: No auto loans = no sales.
These convulsions from the debt-addiction withdrawal are hitting small businesses, schools, churches and charitable organizations.
They're sweeping through urban communities, suburbs and farms.
They're slamming everything from Hugh Hefner's Playboy to London's 2012 Olympic Village.
No wonder Washington is spooked! No wonder the president himself is warning about financial panic!
Technical Analysis - Stocks | |
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| 1. WWIL : Almost touching 11% level to its highs | |
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| 2. Sobha Developers : Weekly gap-down, shown earlier, leads to further weakness | |
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| 3. Rajesh Exports : 11% level marked at 18.60 | |
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| 4. Parvnath Developers : 11% level possible as long as it shows lower top lower bottom | |
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| 5. Omaxe : "Mountain" pattern at the top leads to weakness | |
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