Market Trend For Monday 8 August :- My
Dear friend’s, it was a terrible day for Indian Stock
Markets today 5th August.
the Market started off in a negative note and even as experts tried
to keep the mood adrift, it only got worse. Periodically, the Nifty
saw some pullback rally from the lows of today but ended just little
bit above 5200 levels. That 5200 level, which took a long time to
break, has now become like a roof over the Market’s head, at least
from a pullback point of view. But what might have lead to this
massive fall? here are few factors that could have been accentuated
the fall in share prices today: 1. Mass selling by FII’s
2. Lack of depth in the market,which may have led to even small
sell orders having a multiplier effect. Trader’s/investors, who
suffered heavy losses on some stocks initially, would then try to
offset those, by booking profits whenever possible. 3. The
steep fall in share prices would have Triggered margin calls on
shares pledged by promoters, with financiers. Wherever promoters were
unable to provide the additional collateral, financiers would have
dumped the shares. Program trading would have contributed to the
panic as programmed computers remorselessly executed at pre-specified
price levels. The Indian Market at current levels has been horribly
oversold and we may see another sharp up move on monday morning
opening bell, but all eyes are on the global front on how things will
pan out for monday morning The drama in the global space,
however seems far from over. There could be twists and turns to the
story there, that could make trade decisions difficult for an
investor. Whatever call an investor makes in the last one hour of
trade today 5th August
is a leap of faith based on expectations of a better U.S. Employment
number or non-farm payroll number. If that number to be released
later today tentatively at 6 pm tonight, turns out to be horrible,
then probably you are going to see a 5000-5050 levels on monday 8th
August. If The number
is better than expectations, then nifty could even get back to 5300
very quickly. So conclusion is, for the time being reduce Your buying
exposure as minimum as possible and quit the market every day after
making some reasonable profit. rest is your choice.
Intraday
Stock Tips For Monday 8 August 2011
1.
WOCKPHARMA
( Wockhardt Ltd.) : Buy at 424.45, strict SL AT 410, Intraday
Target 428.45-429.90 Strong Resistance – 435- 440
2.
RUSHIL (Rushil Decor Ltd.) – Buy at 107.70, Strict SL at
101.45, Intraday Target 109-112-113 Strong Resistance -115-118
3.
ICICIBANK (ICICI Bank Ltd.) – Buy at 966.50, Strict SL at
958.00, Intraday Target 975-980 Strong Resistance -987-995