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A BLACK THURSDAY FOR INDIA AS A INVESTING DESTINATION

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A BLACK THURSDAY FOR INDIA AS A INVESTING DESTINATION

Postby ASHOK SHARMA » Fri Feb 03, 2012 8:44 am

A BLACK THURSDAY
FOR INDIA AS A INVESTING DESTINATION
Yesterday’s verdict on 2G case was a wakeup call for INDIA as an investing destination. More shocking and damaging was the reaction of political parties. Mistakes are in human nature. The sooner you realize and rectify it, better. But our Indian NETAs’ are made of Rhino Skin. Worth mentioning here that US president in office after Monica Lewinski case come out in public and accepted his mistake. Even our own Lal Bahadur Shastri, the then railway minister resigned after a mere train accident owning moral responsibility. Rest is self explanatory.

Market today will open flat and try to adjust with the news flow. Tomorrow’s outcome on Chidambaram will be very crucial for the market. So ahead of weekend take a trading rest. The best strategy is to assess the situation over the weekend and take your call on Monday. Compulsive traders only do intraday trade with trailing stop loss.

Since no major cues from US and Asian markets our market is moved by developments on political circles. It will become volatile in the second half and face technical resistance at 5290, 5325 and support at 5240.5200. Any close above 5325 with volume may see NIFTY testing earlier highs of 5380 levels.
The following are the cues to help you in trade today.
NIFTY RANGE of today: 5200-5325.
• US and European markets closed with positive bias.
• Asian markets opened with negative bias.
• SGX nifty up 9 points at 8 am.
• Dollar index is at 79.02.
• Gold at $1757 and crude at $96.49.
• London future is up 5 points at 8 am.
• Dow future is down 2 points at 8 am.
BUY WELSPUN INDIA CMP 41 STOP 40 TARGET 45
HAPPY TRADING.
ASHOK SHARMA
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Re: A BLACK THURSDAY FOR INDIA AS A INVESTING DESTINATION

Postby ravi_india » Fri Feb 03, 2012 8:57 am

THANK YOU JI...........
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