Newsletter 08th February 2007 ....
Date: Wed, 7 Feb 2007 20:03:11 -0800 (PST)From: Nooruddin Fidai
( This is when market on a friday before we made a high on monday 09 feb ...Sensex at 14660 levels....)
GOOD MORNING.
DEAR FRIENDS,
SHAM RALLY???
INDICES ARE CLOSING AT RECORD HIGHS BUT, ADVANCE DECLINE RATIOS ARE NEGATIVE!!!
AS MENTIONED EARLIER, THE CURRENT RALLY IS MORE OF AN EYEWASH THEN A REAL SECULAR BULL RUN. WE STRONGLY ADVISE TO TRADE FOR THE EXTREME SHORT TERM ONLY WITH STRICT STOPLOSSES. INVESTORS MAY KEEP TRAILING STOPLOSSES TO THEIR LONG POSITIONS.
THE EXPECTED CORRECTION WILL BE VERY SHARP, DEEP & REAL FAST AND COULD BE BROUGHT ABOUT BY A NON-ECONOMIC MISHAP - TERRORIST ATTACKS OR NINCOMPOOP POLITICIANS PLAYING SPOILSPORTS FOR THEIR OWN VESTED INTERESTS OR A WAR OR AN ACT OF NATURAL FURY.
TODAY, SENSEX WILL REMAIN FIRM ONLY IF ABLE TO SUSTAIN ABOVE 14610 TARGETTING 14715 OR EVEN 14780. AVOID GOING LONG BELOW 14585. DOWNSIDE POSSIBLE LEVELS ARE 14535 OR 14415.
TRAILING SUPPORT FOR SENSEX IS NOW RAISED TO 14180.
CENTURY TEXTILES - GO SHORT BELOW 677 FOR FIRST TARGET OF 669 AND THEN 645.
BOMBAY DYEING - GO SHORT AT EVERY RISE WITHOUT ANY FEAR UPTO 700 KEEPING STRICT STOPLOSS AT 707. FIRST DOWNSIDE TARGET IS PLACED AT 658 & THEN 625.
CIPLA IS FIRMING UP AS RECOMMENDED EARLIER. KEEP STRICT AT 248 AND GO LONG. TARGETS ARE 260, 265 & 268 IN EXTREME SHORT TERM.
HINDUSTAN MOTORS IS A STRONG BUY ABOVE 44. STOCK IS ALL SET TO HIT 50 & 54 IN EXTREME SHORT TERM.
TAKE CARE!
HAVE A NICE DAY!
BEST REGARDS,
NS FIDAI
DISCLAIMER:
[The above recommendations are based on the theory of Technical Analysis and do not reflect the fundamental validity of the Scrip. Author will not be held responsible for any losses, financial or otherwise, incurred.]
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The fish are biting.
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