authors speak

Global markets though recovered I hold my sell view. O I rose to Rs 1

lac crores which is very close to the all time high figure of Rs 1.17 lac

crs on Jan 2008 from where market vertically collapsed. This indicates

huge overbought position and market has to tank.

Rollover is another reason for pain digesting. WE have just left with

now 8 days in this settlement and 6 to 7 days are required for rollover

and especially when the magnitude of O I have gone up.

Though funds are sounding bullish view on wire channels they are

afraid to write positions aggressively and they are ready to support

markets only in dips. MKT NEWS


IIP nos will be 6.9 as against 7.6 last time and hence this will be used

as trigger for market sell off. Market is holding at 4830 without much

volume. Weak players press panic button the moment Nifty rises by 20

odd points. One should be prepared to hold Nifty short till it does not

cross 4887 with huge volume which looks very difficult. Major

correction will start below 4780 and then below 4720. We will come for

buying at 4570 or 4650 depending on the market position at that point

in time. Bears are always more courageous than bulls. By default long

holders can wait till its value become zero the maximum loss they can

incur but for short sellers there is only answer that is infinity

Mahavir Ent: IIP nos will be 6.9 as against 7.6 last time and hence this will be used

as trigger for market sell off. Market is holding at 4830 without much

volume. Weak players press panic button the moment Nifty rises by 20

odd points. One should be prepared to hold Nifty short till it does not

cross 4887 with huge volume which looks very difficult. Major

correction will start below 4780 and then below 4720. We will come for

buying at 4570 or 4650 depending on the market position at that point

in time. Bears are always more courageous than bulls. By default long

holders can wait till its value become zero the maximum loss they can

incur but for short sellers there is only answer that is infinity and to

fight against this you really require a LION’s heart
Market looks extremely overbought as the O I had rose from Rs

67000 crs to 97000 crs which is unsustainable without correction.

LIC which was supporting market for last 1 week for OIL issue could

turn a major seller to book profit.

The settlement cycle is very small this time as it is expiring on 24

th
Sept 2009 and there is one holiday next Monday.

Market has come long way from 4600 to 4900 and requires some

correction. The last few sessions almost all major stocks where retail is

long had given sideways moves and Nifty rose only because of RIL rise

which clearly suggest that huge unwinding on cards on triggering of

stop losses.