Weekly Views

After fall of last week market stabilize in Friday on event of strong buying from the Indian Retail Investors. US FOMC 50bps cut really did not help Indian Market to stop further downfall.

After 50 BPS rate cut all Asian market rallied a bit but cant able to maintain that level. All Asian Market closed in RED on Week - O - Week basis. and Finally our market also closed in RED. Sensex lost around 129points and Nifty lost its ground by 66 points.

Some lower levels buying is seen in IT , Metals (ferrous and non-ferrous both) and Banks Stocks.. IT stocks were up by 5-9% , Infosys was up 6% , Satyam Comp 7%.

Metals Companies seens values buying after awaited announcement in RATE hikes in their products.. it helped to rise stocks prises of Meals Stocks.. TATA STEEL was closed in green at 776 up by 5% , SAIL closed at 225.45 up by 4% .

We hope that market will also range bound in this week. Sensex should maintain 17400 levels on closing basis.. As this is act as a Support for the Market. We believe that this current uptrend is upto 18800-19400. Market is very volatile so strict stop loss should be maintained below 17400levels.

Nifty strong resistance is at 5420 in closing basis.


Indian Market Views

We believe that Indian Stock Market is still Intact.. We are the 2nd lowest PE market in world.. Our companies are showing good results. Leave US their market in the mode of Recession. But We are the 2nd most highly growing Emerging Market agter China. Leave china also their market PE ratio is 43. which is still Expensive or nearly double from our market.


We advice all Positional Trader to buy all scrips at these levels for upside of 25% in 6 months.





thanks

Abhishek

U can add us on Yahoo at infotips@yahoo.com

Click here to join our ORKUT Community

If you enjoyed this post, make sure you subscribe to my regular Email Updates!