The Markets had another flat week losing about 0.4 pc. The market continues to grind in the range from 5640-5730. Only once this range breaks we can expect a substantial move on either side.
1. The next trigger is the RBI policy on Tuesday 30th October. I expect a CRR cut of 25 basis points.Anything more and the markets will rally.
2. The Results season is all but over and a few results have been stand out like M&M, ITC and Larsen. This again goes to show that the quality of management does make a big difference.
3. I have posted the long term Elliot chart in my previous post and expect the market to head higher for the rest of this year after a minor dip in between.
4. The key levels to watch would be 5633, 5603 and 5527. Around 5500 would be a very good buying opportunity.
5. The Cabinet reshuffle has happened and it is not a big deal. It is just that more people from the Congress have got a chance to enjoy the fruits of being a Minister. They have tried placating AP and West bengal, a move which is unlikely to reap any great dividends.
The bottom line is wait for the tight trading range to break either at 5730 or at 5633. A break on either side would give a move of at least 100 points. 5830 therefore becomes a place to book some profits and 5500-5530 becomes a place to add some of the blue chip stocks.
We got a very good response for the Picks launched by me and Lakshmi. It is now time to close the subscriptions. Thanks to all those who subscribed. It was a great learning experience for me too and I have become a better investor in the process.
1. The next trigger is the RBI policy on Tuesday 30th October. I expect a CRR cut of 25 basis points.Anything more and the markets will rally.
2. The Results season is all but over and a few results have been stand out like M&M, ITC and Larsen. This again goes to show that the quality of management does make a big difference.
3. I have posted the long term Elliot chart in my previous post and expect the market to head higher for the rest of this year after a minor dip in between.
4. The key levels to watch would be 5633, 5603 and 5527. Around 5500 would be a very good buying opportunity.
5. The Cabinet reshuffle has happened and it is not a big deal. It is just that more people from the Congress have got a chance to enjoy the fruits of being a Minister. They have tried placating AP and West bengal, a move which is unlikely to reap any great dividends.
The bottom line is wait for the tight trading range to break either at 5730 or at 5633. A break on either side would give a move of at least 100 points. 5830 therefore becomes a place to book some profits and 5500-5530 becomes a place to add some of the blue chip stocks.
We got a very good response for the Picks launched by me and Lakshmi. It is now time to close the subscriptions. Thanks to all those who subscribed. It was a great learning experience for me too and I have become a better investor in the process.
yes, that is taking place today. See the live blog here today:http://news.in.msn.com/national/live-blog-union-cabinet-reshuffle
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