I had written this before (with reasoming, I had mentioned the possibility of a significant correction after Q2 results way back in early September, when markets were going great guns), but summarizing again now.
Revival will happen somewhere around Christmas and market will possibly reach new highs somewhere in Feb-March 2011. Stay invested, panic sell to be avoided and do not be rash in averaging. Average only if stock is 15-20% or more down from your buying price. I do not think NIFTY will breach 5800 in this correction.
Next support levels for NIFTY are 5730/5600/5419/5380 (last 2 are very strong and rigid support levels for current NIFTY pattern). I expect NIFTY to reach 6800 (SENSEX 23000) by end of calendar year 2011.
On Tue, Nov 16, 2010 at 2:05 PM, manoj hirway wrote: Dear Sir,
Its scary to see our portfolios bleeding. Although this correction was expected, when exactly do you see a revival? Please let us know your thoughts on further direction of the markets.
Thanks and Regards,
- Manoj.
On Tue, Nov 16, 2010 at 2:05 PM, manoj hirway wrote: Dear Sir,
Its scary to see our portfolios bleeding. Although this correction was expected, when exactly do you see a revival? Please let us know your thoughts on further direction of the markets.
Thanks and Regards,
- Manoj.
Like a politician, ANYONE can say that market will go to 5800 or below level but then again it can go to 6,800 level also.
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