How the market will react on monday? ( 22/10/2007)

JungleLion · #11 21st October 2007, 09:50 AM

Gold is getting ready for a steep fall in days ahead.

But, the control point here is that the US Housing data has been extremely weak, so unless the housing market does not pick up in US the US investors in India will not pull-out of stocks.

Strong housing market translates to dollar strength.

Another aspect is the subprime data, remember the bet by a french bank which went wrong and resulted in a massive dollar weakness with world banks pumping billions into the financial markets to control the situation.

As always situations in the forex markets directly affect the stock markets.

Recently, in this month a US fund Amarnath lost 5 billion $$ in a single week because of a failed bet on gas futures.

rkkarnani · #12 21st October 2007, 11:24 AM

Quote:

Originally Posted by JungleLion

Gold is getting ready for a steep fall in days ahead.

But, the control point here is that the US Housing data has been extremely weak, so unless the housing market does not pick up in US the US investors in India will not pull-out of stocks.

Strong housing market translates to dollar strength.

Another aspect is the subprime data, remember the bet by a french bank which went wrong and resulted in a massive dollar weakness with world banks pumping billions into the financial markets to control the situation.

As always situations in the forex markets directly affect the stock markets.

Recently, in this month a US fund Amarnath lost 5 billion $$ in a single week because of a failed bet on gas futures.

So Sir, whats your take on the Sensex levels in coming week...any Support /Resistance levels???? Your other post about MM is all Greek to me, have started doing Goole search for getting better info about MM. Thanks for bringing it up!!
Rergards
R K Karnani

viraj21283 · #13 21st October 2007, 12:45 PM

There will be a big sell off on monday, As dow is down

JungleLion · #14 21st October 2007, 12:52 PM

Quote:

Originally Posted by rkkarnani

So Sir, whats your take on the Sensex levels in coming week...any Support /Resistance levels???? Your other post about MM is all Greek to me, have started doing Goole search for getting better info about MM. Thanks for bringing it up!!
Rergards
R K Karnani

In very simple words, if on monday the sensex closes below 17500 then it is 16875, else we return to 18125.

In extremely weak conditions 15625

17500 should form a major support level here.

hari09omkar · #15 21st October 2007, 01:09 PM

Quote:

Originally Posted by rkkarnani

Your other post about MM is all Greek to me, have started doing Goole search for getting better info about MM. Thanks for bringing it up!!

Here is a translation from Greek to English

:
http://www.foretrade.com/MM_description.htm

rajesh.sadhanala · #16 21st October 2007, 03:45 PM

Quote:

Originally Posted by JungleLion

In very simple words, if on monday the sensex closes below 17500 then it is 16875, else we return to 18125.

In extremely weak conditions 15625

17500 should form a major support level here.

Interesting levels to watch out is 17200, low of friday. Nifty 5100 is interesting levels whether market can hold or not, already couple of times tried to break that level.

Recently many A level stocks have run up too much and there is most likely to be a retracement of 33% to 50%.

Raj

Czar · #17 21st October 2007, 04:33 PM

Quote:

Originally Posted by JungleLion

Recently, in this month a US fund Amarnath lost 5 billion $$ in a single week because of a failed bet on gas futures.

US fund Amarnath was last year issue (sep 06)....

Vikeshnjain · #18 21st October 2007, 09:26 PM

expecting it to go below 5k mark

krjain123 · #19 21st October 2007, 09:46 PM

Expecting a GAP Down with Nifty Gap of 70-100 points. If the Gap down trade triggers then expect further slide. (Note that no Gap down trade of Nifty has occured in the last month and half)

sreperu · #20 21st October 2007, 09:50 PM

Hi,
Here are the levels according Fibonacci levels if it corrects tomorrow...

Sensex:
38.5% -- 17150
50% -- 16500
61.8% -- 15900

All the US indices are in Red, may expect downside movement tomorrow...

Regards!
Sreeny