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March Second week
Insurance giant AIG reported heavy loss in billions that raised the eyebrows of the US government about the rescue package that to be developed to lift this finance firm. A tough week faced by the equity market between heavy selling and little buying. US job reports were worst than ever. Obama announced to send off the engineers with H1B visas and this created a havoc among outsourcing companies.
Critical Supports for Global market
None of the share markets in the globe is left out from this fall. Every market is trapped and each and every analyst is running behind in search of the botttom. Because this fall is unpredicted the way it is heading is also unpredicted and hence the equity analysts are working out to find where the market will bottom out.
Nikkie is urging towards the crucial support of 7000 mark. From here one can expect the U turn in this market.
China market is facing crucial sell off from all side and no one is ready to invest. Now the line is near 2200. Can the bottom be found around 2200 and expect up move ? Wait and see the magic from this level.
Honk Kong market Hang Seng has already breached the crucial support of 12000. Where will it take the upward trend. Even today it is below this level. But this week no crucial economy reports and this will take the downtrend away from the market. Understood ?
Singapore Market is bottoming out near 1480-1520. And this indicates the global support as SG market is one of the key indicators for economy.
Indian share market had continuously faced the sell off from the mutual funds and also from the foreign investments. FIIs are pulling out their investments as they too await for the signals of up move. Upcoming M.P elections commonly called as Lok Sabha elections will become the trend decider. This statement had been polled by leading market analysts regarding the impact of the elections as the winning party should be in favor of stabilizing and improving the economy.
Bombay Stock Exchange BSE has already touched the 8100 mark. Yes market will start to take U Turn and give green signal to buy from these levels. Shall we challenge ?
National Stock Exchange NSE is trying to bottom out between 2550 and 2600. Nifty crucial supports will be at these levels. And there are no signals of global bankruptcy from here onwards. This will give confidence to investors.
Rupee is continuously weakening for the whole week and in the last couple of sessions it showed some strength. The reason for this weakness is oil price got stabilized and started to move up. Hence the oil sector companies buying out more dollars. Will rupee be trade @ 54 a $ in coming week ?Watch out the power of chart and analyst predictions in blue channels in this week.
If you are a strategic investor and pulled your profit form gold, then its time to stop playing with this yellow metal. Some analysts like us know the actual bottom and support lines for these investments. I'll tell you, please move towards equity as equity markets are nearing the bottom levels. Once this has been found and released as news the gold investors will commit suicide because there will be crash in this month for gold price to 800 levels. Do you believe ? Wait and see the magic
Do you know ? Last week i challenged the readers to buy cement stocks. Just look at that March First Week market outlook and check your portfolio. If you added these stocks in your portfolio, then you would have had a smile last week.
Satyam locked in circuit !!! Software companies can benefit due to the on going rally in rupee against US dollar. Most of the IT projects for this quarter are in the final stage and the last commitment of payments will be arriving where they will encash dollar at higher rate.
Real estate stocks are not at all scam in India. Everything is fine. Since there are no strategic movement in sales reality giants like DLF, Puravankara decreased the price for the flats and grounds in their projects.
Keeping in mind the upcoming elections, start looking at the fundamentals of hotel and travel stocks like Advani hotels, Hotel leela venture and so on as the season is going to start and these rooms will be occupied by politicians. Got the point.
I am not cheating you as i dint say that you buy or sell a particular stock at particular level.
.How to invest in share market ?
Weekly stock tips