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Stock market ready for the worst Ride
Posted by
ATUL DOGRA at Wednesday, September 17, 2008
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Indian Market have taken support from last 2 days and all thanks to SBI. Traders are talking about Intermediate bottom and so on. It is advisable to all clients that please avoid trading in this Market specially on the long side. Investors are advice to avoid Investing for long term even at these levels. I said before Nifty will make a bottom between 3200-3600. which is 15% fall from here, However the stocks will decline much sharper. If U.S. is under such pain then how can world escaped. In near future we will come across some most favorite words in typical bear market like REDEMPTION PRESSURE, LIQUIDITY, LOW MARGIN, DEFAULT, etc.
So anyone who thing worse is over have mistaken. Domestic Institute are buying heavily now days just to safe themselves because they know that they cannot take the burden of redemption. Minor bounce back here and there can take place. Global market have fallen so much that you can even see a small bounce in the market I mean to say Bounce not rally.You can check 17th sep chart of nifty posted above also . Ultimately we have be ready for worse in the future. AIG bailout might be good news for the sentiments but it is bad news for Global economy. Yesterday Dow jones closed more than -400 points , So lets see what will happen today .