i Develop Stocks Advisory

No visible pain... India outperformed because other Asian markets fell by 4 to5 % and India 3% which was also a jerk knee reaction. Majority of the cash stocks were locked in upper circuits even though market was down by 600 odd points which proves that liquidity is not an issue at all now. The major culprits were Tech stocks which had risen against the fundamentals. How can tech rally take place when rupee is rising unless the contracts are re negotiated in rupee terms which I think could happen only water goes above the head i e rupee piercing 35 levels. No wonders tech companies then will give example of the famous TAJ decoupled with US currency by U P Govt… Only RIL Tata Steel and DLF are the three stocks which have corrected by 2% were from the gem of stocks which could have been seen corrected as rest of the pack stands in the volatility charts suggesting no surprise. The pain therefore did not felt. On the contrary, stocks like RNRL, IFCI, Arvind Mills, REL, J P Hydro really outperformed. Who know Dow will bounce back by 200 odd points today then well 500 points gap opening will happen. Any way, this had to happen because Nifty had covered a long run from 4700 practically to 5500 and correction of 200 points was not ruled out. It happened. Short sellers instead of cutting short decided go further to aggravate the matter because this is the one breed which generally do not get convinced and also failed to become contrarians. They had first SL at 5220 above which we had seen market flaring to 5500 today market stabilised at 5285 and in my opinion 5220 still works strong support. Above 5540 Nifty will race to 5880 in no time. I have no doubt about the market behaviour as well as its end targets. Above triggers were given to just restore your confidence. At the same time it is an open invitation to the bears to go on rampant with their own call. The fact remains that bears generally do not understand underlying facts of economy or you may say do not want go by that. Hence they want to define their own markets. They succeed at time like we fail some times but the ratio of their failure is larger than the success. Bulls know this and ya one thing one must note that when we are talking about technical experts Bulls who are trying to control market can afford to have luxury of army of such technical experts and therefore they know how to create charts and how to squeeze these technical to best of their advantage. We had initiated buy call on MCS at 32 the cmp is Rs 60 this is how our research works…? Whether you want to trust or not is your problem and also whether you want to buy or not is your call but please do not refer queries on stocks where we have closed calls in profit and balance stocks you are holding free of cost. Life is denied by lack of attention, whether it be to cleaning windows or trying to write a masterpiece or investing in the stock market.