Market warns - 18 May 2006

ragh_ash, rangarajan, Saint, harmads, ganeshhity, shethharsh, srisara, CV, jaideep, gvnarendra et al

Thanks a lot for participating here. It was a Mayhem today.

cheers,
nkpanjiyar

Friends, through my today morning post I cautioned fellow members that its better to be well equipped and ready for any surprises rather than get surprised by market.


As per my study,

The market may fall for more than 2000 points in sensex (including todays fall) as its not able to sustain higher levels. Honour all stop loss levels religiously. Dont take market for granted, book profits or losses immediately. DON'T PANIC in falling market but wait patiently. DON'T BUY anything in falling market thinking that this price is the lowest, prices may fall upto any extent this time.

Market is ready for its another fall or corrections: Be ready for it. Wish you good luck.

Plz do consider the advice of Amit, Saint, vvonteru and others regarding caution at present.

Good Night,
nkpanjiyar

Hi Nk,

Thanks for the caution, rather I should say warning.

Regards
chachi

hi,
thanks saint and nkpanjiar.

One more interesting thing to see if one has come across cci indicator.A very nice trendline on cci(20-periods) has been broken after a long time on weekly bse graph.the 100 line break has indicated of a down move in coming weeks.I donot use these much but I have posted it just out of inerest.cci sometime gives the direction of the market at the start of the move.

,
gvnarendra.

Attached Images

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NKP my friend

Good prognosis ... and hope u exploited yr premonition profitably

Recall that the selloff got a mid-day 'boost' as soon as Tisco results came. Now my question is : how many of us knew that TISCO will report a fall in profits , let alone a fall relative to analyst estimates.

So my deduction is (and correct me if I am wrong) that the analyst fraternity together with their ardent fans (I mean the CNBC anchors and the other jing bang lot) have been keeping us in the dark about the state of affairs in a major market pillar

Moral of the story : dont rely too much on analysts

NKP by the way, you correctly predicted the massive selloff half an hr thru the market , i.e when the sensex was already 500+ pts down ..hats off ! Many of us would have been thinking of going long , or averaging at that point (I got saved as my son had grabbed the PC , else I was about to buy some NIFTY calls)


Tomorrow is another day ... sigh!

AGILENT

Agilent my friend, I thought of sharing before market opening but due to one urgent morning meeting in the office it got delayed.

Regarding CNBC influence, I am in advantageous position. I didn't kept TV in my home and never watched them. Hence little chance of influence and brain wash. For me Internet is the best medium today to collect, verify and analyze the facts and figures. Thanks to Google.

Good Night,
nkpanjiyar

Hello everyone,
Its really grt---to see CV returning again---Thanks NK--for ur thread which afterall dragged him back to Traderji----
Also,thanks to u specially NK--and to all other members---for all their valuable comments regarding todays fall---
To --put my views on this fall----I think its really not surprising at all---for the market to fall it this extent----may be the intraday fall to something hard to digest---but nifty would definiely reached to this level--in a few suggessive days--had it not been today---if u look at NIFTY at the last 13th of april(the lowest in april)---it was 3345---and by the 10th of the this mth(MAY) it was 3754--more than 400 points-up in less than a mth!!!-----There has been an almost unhindered rally ----The bears were getting ready for quitesome time-----there just needed to be some triggering factor!!!---which
came today---with the news of the new taxation scheme that FMs(indirectly) thinking to be implementing for the Trading comunity of the FII---by dint of which they may have to pay as much as 40% tax in the extreme case----as well as got to depend on the whims and fancies of the IT Deparmental officials!
Unless the FM steps up tomorrow----there may occur a 100 pts fall more---I think 3345 would be a crucial level to look through---
A few of the stks wich have come to good buying level r:
EVEREADY---arond 96---98----target 115
ACC around 785-----trget 900(may take a bit long if bear market prevails for a few successive days)
EDUCOMP--around 350 ---witha target of 400


For the daring few ---some trading calls for tomorrow:
TISCO600CALL at around 7(best around6)---target 10.5(intraday)---todays cls---8.25(dn77%)---dont tryto buy inthe1st 15---20 mins---if market rises then carry---for a target of 14
NTPC 135CALL at around 1---1.15 to 1.3---target 1.85(intraday)---SL 0.75---i bullish in this scrip---carry if marketappears tolook positive towards end---target 2.5

NIFTY 3500 CALL at around30---35----target 75(not intraday)---SL---25
Regards,
joy_mitali

"MANUFACTURED CRISIS" - says FM. "Uninformed reporting and reacting to uninformed reporting is not a desirable thing" I tend to endorse that statement of FM...
In todays time of Information Explosion (Information, right or wrong !!) this is bound to happen.. I personally feel investors should not panic at all.. Today will be a new day !!
Regards