Market Forecast
- Thread starter koshyssj
- Start date
Market Forecast for 04.04.07
Yesterday, the market opened on the expected lines and almost remained in the positive zone throughout the day. But the decrease in volumes which is a sure indicator of short covering and lack of buying at lower levels is a sign of market weakness and yesterday's market behavior is just a dead cat bounce.. The market is still in the bear phase. I expect the market to open in a positive note today with high volatility and the cement sector will be more affected due to the announcement of scrapping of CVD & spl. addl. customs duty on import of Portland cement by the Union Government.
Today, the market will open flat or gap up by 15-40 points and if it remains above 3705+ keep long with a SL of 3665 for 3725-3749 and if it remains below 3680, go short with SL 3695 for a target of 3625-3585. Since yesterday's market behavior is only a dead cat bounce, i am not convinced that it will last longer. I advise all traders to better stay away from the market since the market direction is still not clear. Please use all releif rallies to exit from all longs. High risk traders can burn their fingers as selling is expected at higher levels...
Yesterday, the market opened on the expected lines and almost remained in the positive zone throughout the day. But the decrease in volumes which is a sure indicator of short covering and lack of buying at lower levels is a sign of market weakness and yesterday's market behavior is just a dead cat bounce.. The market is still in the bear phase. I expect the market to open in a positive note today with high volatility and the cement sector will be more affected due to the announcement of scrapping of CVD & spl. addl. customs duty on import of Portland cement by the Union Government.
Today, the market will open flat or gap up by 15-40 points and if it remains above 3705+ keep long with a SL of 3665 for 3725-3749 and if it remains below 3680, go short with SL 3695 for a target of 3625-3585. Since yesterday's market behavior is only a dead cat bounce, i am not convinced that it will last longer. I advise all traders to better stay away from the market since the market direction is still not clear. Please use all releif rallies to exit from all longs. High risk traders can burn their fingers as selling is expected at higher levels...
Market Forecast for 05.04.07
I am posting this message much earlier since i am going out of station tomorrow and due to this i am not in a position to write a comprehensive forecast for 05.04.07. However, i am writing a short forecast, which may prove fruitful to the fellow investors.
The market behaved exactly what I've predicted but still i am not convinced that this is the start of a bull phase.. The market will enter the bull phase only when the nifty crosses 3821 on a closing basis with good volumes. Today almost all the sectors gained in the so called technical breather rally and one should use this opportunity to exit from all longs.. But one should not be surprised if the market rallies to some 200-250 points in the weeks to come from next week due to the start of results season.
Opening will be flat or gap up by 15-25 points with high volatility and if it remains above 3735+ keep long with a SL of 3715 for 3765-3780 and if it remains below 3725, go short with SL 3735 for a target of 3675-3655. Since the market direction is still unclear, i advise all traders to adopt a wait, watch and play policy for 05.04.07. Book profits at the higher side and wait for the down slides if the markets fails to hold on to 3810-3821...High risk traders can play their risky game as usual....
I am posting this message much earlier since i am going out of station tomorrow and due to this i am not in a position to write a comprehensive forecast for 05.04.07. However, i am writing a short forecast, which may prove fruitful to the fellow investors.
The market behaved exactly what I've predicted but still i am not convinced that this is the start of a bull phase.. The market will enter the bull phase only when the nifty crosses 3821 on a closing basis with good volumes. Today almost all the sectors gained in the so called technical breather rally and one should use this opportunity to exit from all longs.. But one should not be surprised if the market rallies to some 200-250 points in the weeks to come from next week due to the start of results season.
Opening will be flat or gap up by 15-25 points with high volatility and if it remains above 3735+ keep long with a SL of 3715 for 3765-3780 and if it remains below 3725, go short with SL 3735 for a target of 3675-3655. Since the market direction is still unclear, i advise all traders to adopt a wait, watch and play policy for 05.04.07. Book profits at the higher side and wait for the down slides if the markets fails to hold on to 3810-3821...High risk traders can play their risky game as usual....
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Market Forecast for 09.04.07
Market remained in the positive mood on Thursday. Both bulls and bears were in a confused state throughout the whole trading session and selling was primarily due to the long holidays. Asian and Global markets remains in the positive mood and it may reflect in the Indian markets also, since the Indian ADR's ended the week in green. Market will remain in the positive zone with moderate volatility till it crosses 3821-3895 and before breaching 3715-3705. The resistance will be high at 3821 and the market may react very sharply at that level.
Opening on Monday will be flat to up by 15-35 points and if it remains above 3755+ Keep long with SL of 3740 for 3780-3805 and if it remains below 3730 go short with SL 3750 for a downward target of 3720-3675. Since the market is expected to behave positively, investors can have intra-day transactions keeping strict stop losses with a word of caution that all the traders must think twice if they intends to hold for long... HAPPY TRADING...
I also wish all fellow boarders a Very Happy Easter....
Market remained in the positive mood on Thursday. Both bulls and bears were in a confused state throughout the whole trading session and selling was primarily due to the long holidays. Asian and Global markets remains in the positive mood and it may reflect in the Indian markets also, since the Indian ADR's ended the week in green. Market will remain in the positive zone with moderate volatility till it crosses 3821-3895 and before breaching 3715-3705. The resistance will be high at 3821 and the market may react very sharply at that level.
Opening on Monday will be flat to up by 15-35 points and if it remains above 3755+ Keep long with SL of 3740 for 3780-3805 and if it remains below 3730 go short with SL 3750 for a downward target of 3720-3675. Since the market is expected to behave positively, investors can have intra-day transactions keeping strict stop losses with a word of caution that all the traders must think twice if they intends to hold for long... HAPPY TRADING...
I also wish all fellow boarders a Very Happy Easter....
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