Monday, September 15, 2008

NIGHTMARE DURING DAY

Financials Financials & Financials are driving this market for so long . crude below $100, prices at good values etc not helping the sentiment..and the biggest blower from last few weeks LEHMAN BROS finally may be going down if no suitor is there, remember this is the forth largest investor banker in the world..negating the sentiments all over the globe..most markets in Asia are closed and our indian friends generally do big moves on such days..so where we headed..4160-70 was a good support line for so long will be breached in opening as per SGX nifty . NF has strong support deeper down at the 3970-90 from where the bounce back can be expected soon. I had been asking all not to do any BOTTOM FISHING, Hope this has helped all investors and traders now can find very good value for taking trading calls afters today gap down. with todays fall the DAILY / WEEKLY CHARTS may move into oversold zone soon , so caution should be used for shorts at lower levels as a relief rally could be in store . and if a suitor is there for Lehman..today ?????????...the scene will change suddenly/dramatically.....also pls. note that the chart i posted below yesterday 4500 is the mean average of this market and somhow its spending a lot of time in this zone..trade well ..cheers.

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