spx

spx has turned volatile. however it needs to be watched . volatility at this level is obvious but the range is not too large to cause a concern . hence it is possible that it is preparing for anew high.

however action is not so conclusive.

however a sign of strength will mean that 1220 is coming now.

sensex

nifty has come into 5900-5950 zone , with current low around 5942 spot. in the least one more low breaking 5930 is required.

some have mailed me saying a possible head and shoulders topping pattern.

i dont think that it exists here .

index has been in a corrective mode and so has done exactly that. it had to come into this zone which it has done.

still the stocks look weaker than usual which may is an indication of prolonged sideways action if not more correction.

so it is quite possible that month and settlement remains subdues and sideways till the the time averages catch up and stocks can form a base .

the day of next major panic should be a short term buying oppurtunity.

update -stocks

exit gitanjali at 268 and indiabulls at 220.will try and enter indiabulls at lower levels.

chambal still looks good.idbi is okay.174 now.

petronet is still a hold.watching it today .the tgt is 137 spot. but must move up today.

Raymond is on stock that i am liking and going long esp if it closes at 410 kind of levels.tgt are 480 and 525 atleast.

coal india

coal india has been subscribed 25 times in QIB portion.tomorrow should see huge retail and HNI demand and further huge huge QIB demand.

i have absolutely no doubt whatsoever that coal india within its 5 trading day of listing will stun everyone on the upside.

it is pure india conviction story.

whoever can invest should invest and go long.

and these are not based on any research or any knowledge of fundamentals but on how market is placed today.market players are hungry to put money at work.

simply invest , subscribe to ipo.

sensex

good volatility on sensex today, my initial target is 5930 nifty cash, which should be achieved tomorrow or day after.

nifty gave one try below 6000 and was bought into but stock charts are weaker than normal, so my initial thought of base between 5900-5950 still holds.

volatility and coal india

volatility is ofcourse expected near life time highs and thats what the market is doing.

further it needs to shake off the weaker longs before the next ascent.a base is there between 5900-5950 which is unlikely to be broekn and a dip below 6000 and 20000 sensex will provide the necessary panic.

coal india, the biggest indian ipo opens from monday and hence liquidity pressure can cause the current market fall.

coal india will be a runaway success ( i know nothing of and about the company except basics).it will be so because any fund worth some money will buy into it.HNI and QIB segment should see massive oversubscription maybe 20-25 times and retail about 2 times.with a price of 245 it should open and touch 300-325 on the opening day.

markets will make another attempt soon at highs and by listing of coal india, i believe it will.

markets dont repeat themselves.

sensex

there cannot be any substantial correction in the sensex till this year end atleast. all corrections can only be time wise and not price wise. in effect it cannot dip below 19000 .

fundamental view

institutional investors are pouring money and mutual funds are net sellers.

why is that?

mutual funds is largely a pool of retail money and who will want to cash out at these levels.near new highs.what if falls kind of thinking that we all have.

FII's pouring money is actually the transfer of shareholding to stronger hands from 'weaker' retail and mutual funds.

why will FII's pour money at these levels?because they realise the trajectory of indian market.

everybody fears large protracted falls. but when sees a bottom in sight and knows we ve seen the worst and that index will now not go below 5000 levels on nifty , a larger well capitalised player will pump money.

thats whats happening.action on realisation that the gap in indian markets at 4000 nifty levels will not be filled.

what next

sensex is resting, correcting a little.

oil and gas is looking more and more attractive and will move into the buy zone very zone from the current accumulation zone. of course as a trader one cannot buy here but have to wait for confirmation before going in and buying.

indiabulls did 189 and is really going up.

ifci, idbi should make new highs say 100 and 180+ soon .

6070 nse spot is a very good support. so market should have a tough time breaking this level by far if at all.

relmedia is an all out buy at this level. expect 330, 350 in this month only currently at 280 is i suppose. so a good 25% from here with little risk.

indiabulls

some time back i had remarked that indiabulls was going to 190 and sadly it consolidated for a while. but now it is surely going to 200+. a huge break.

nifty : booking profits

it is time to book profits on nifty and exit long positions at these levels.

stock specific action may continue, but market has confirmed today upwards trajectory and hence us liable to rest for awhile.

bhsuhan steel !!

as i write this bhushan steel is up 16%, at 505+

now thats what i call a bull move.