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Friday, February 1, 2008

Who's who.......

We were never confused and neither in two minds. We are sure about our destination and as well as market destination. Our research is always based on certain futuristic values and only we can understand this. Our institutional desk is sufficient to take care of our revenue too. We knew market at 4600, we knew at 8900, 12300, 16000, 20000 and 17500 also. For sure we can assess what you cannot.

We have been trying hard to save you all from disgrace and preventing sale of your positions at 4700 Nifty and even at 5200 Nifty but yet there will be some community which would prefer to go short and earn for which we have no problem at all. Once again we request our members to refrain from making derogative statements which could affect the body language of our core team. This could damage you more than us as you will be deprived off the fruits of good times.

From day one we have been making very clear one that we do not advocate day trading. Day calls are only optional and you are not a 10 year kid where we can hold your finger and make you trade. Two, whether you trade or not we will have least benefit. Three that we have always made clear that nobody can make profit in futures and these trades are only meant to satisfy your passion to trade. At no point in time you were asked to extraneous positions in the market. We are still here to prove that we will be able to bail you out from the sinking ship but for that time and patience both are required.

Yesterday, I had suggested a 50 basis point cut too will not go well with US which was the fact. Today market opened 350 points lower went up by 250 points and still struggling to go up. The final score will be known only at 3.30 pm after knowing who sells how much…?

To the best of my ability I try to give you the future of the market instead of post mortem. Today I would again refrain from giving you many comments on the future course of the market. You are also following other market intermediaries from you may seek guidance. You may also ask them how is the Hon’ble F M going to bring 100 bn USD to the FOREX in calendar year 2008 when the figures for 2007 was only 47 bn USD and market rose from 10000 to 21000…? Also ask the impact of this 100 bn USD which was my prediction at a time when nobody could even think of on rupee as well as market….?

These answers will solve your problems to a great extent. We are bullish and we will remain bullish come what it may….I think it would not even be a bad idea for I DEVELOP management to spark my forward going analysis in the talk section instead of comments. In fact, I boldly admire the SEBI comments that market correction is normal and no authorities can be grilled for excessive F & O trading and intermediaries should refrain from giving day trading calls.

The way to get things done is not to mind who gets the credit of doing them.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Sunday, Jun 22
22:45 Fed's Daly speech 2
Monday, Jun 23
04:30 S&P Global Services PMI 2 50.6
04:30 S&P Global Manufacturing PMI 2 51
04:30 S&P Global Composite PMI 2 50.5
12:30 Fed's Waller speech 2
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