SENSEX 15175.08 -204.26
NIFTY 4544.20
-68.90
USD/INR 0053.00 +00.22
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UPDATEDTIME 09.28 PM 20 DECEMBER
2011
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The National
Stock Exchange's Nifty hit fresh 52-week lows in last half an hour of trade as
institutional investors continued to exit long positions on concerns of slowing
economic growth, government's inaction at handling of reform policies and RBI's
tight monetary stance. The benchmarks underperformed the European and Asian peers as jittery
traders went short after strong supports were taken out intraday.
"Now nobody believes that the bottom is close by. Market cannot hold even above 4600 so definitely another bounce back has failed. The way to make money in this market is that you go short and you stay short, do not try to trade these pullback rallies.
Like we went short on bank Nifty from Friday and we have not done a thing since then so Bank Nifty can do its 100 rally that does not matter but the overall thrust is on the downside even with intraday trading try to trade only on the short side even if your timing is wrong the market will most likely bail you out.
The Nifty closed at 4544.20, down 68.90 points or 1.49 per cent. The broader index touched a high of 4637.25 and low of 4531.15 in trade today.
The Bombay Stock Exchange's Sensex ended at 15175.08, down 204.26 points or 1.33 per cent. The 30-share index touched a low of 15135.86 and high of 15448.13.
"Now nobody believes that the bottom is close by. Market cannot hold even above 4600 so definitely another bounce back has failed. The way to make money in this market is that you go short and you stay short, do not try to trade these pullback rallies.
Like we went short on bank Nifty from Friday and we have not done a thing since then so Bank Nifty can do its 100 rally that does not matter but the overall thrust is on the downside even with intraday trading try to trade only on the short side even if your timing is wrong the market will most likely bail you out.
The Nifty closed at 4544.20, down 68.90 points or 1.49 per cent. The broader index touched a high of 4637.25 and low of 4531.15 in trade today.
The Bombay Stock Exchange's Sensex ended at 15175.08, down 204.26 points or 1.33 per cent. The 30-share index touched a low of 15135.86 and high of 15448.13.
The market
may find support at current levels.
"Domestically, we may see WPI coming off in the next few weeks. This may auger well for interest rate sensitive stocks and also for the markets.
On reforms, there is still uncertainty on how much and how fast it will be done. However, we have started seeing signs of urgency from the Government. We expect that, we will see more initiatives in due course of time.
So, assuming that interest rates and reforms play out favorably, the markets may find support at the current valuations, subject to volatility in the near term.
BSE Midcap Index was down 1.86 per cent and BSE Smallcap Index fell 1.45 per cent.
Amongst the sectoral indices, BSE Capital Goods Index was down 3.50 per cent, BSE Metal Index fell 3.48 per cent, BSE Realty Index declined 2.71 per cent and BSE Power Index was down 2.59 per cent. BSE FMCG Index was up 0.37 per cent. BSE FMCG Index moved 0.37 per cent higher.
Jaiprakash Associates (-8.23%), Hero MotoCorp (-6.19%), Larsen & Toubro (-5.90%), Tata Steel (-5.72%) and Tata Power (-5.67%) were the major Nifty losers.
Ranbaxy Laboratories (3.24%), ONGC (2.39%), HDFC Bank (2.32%), ITC (1.19%) and BHEL (0.90%) were from the gainers pack.
Meanwhile, the Indian rupee ended lower against the US dollar as outflows continued followed decline in the stock markets. The partially convertible rupee ended at 52.88 per dollar against previous close of 52.79.
"Domestically, we may see WPI coming off in the next few weeks. This may auger well for interest rate sensitive stocks and also for the markets.
On reforms, there is still uncertainty on how much and how fast it will be done. However, we have started seeing signs of urgency from the Government. We expect that, we will see more initiatives in due course of time.
So, assuming that interest rates and reforms play out favorably, the markets may find support at the current valuations, subject to volatility in the near term.
BSE Midcap Index was down 1.86 per cent and BSE Smallcap Index fell 1.45 per cent.
Amongst the sectoral indices, BSE Capital Goods Index was down 3.50 per cent, BSE Metal Index fell 3.48 per cent, BSE Realty Index declined 2.71 per cent and BSE Power Index was down 2.59 per cent. BSE FMCG Index was up 0.37 per cent. BSE FMCG Index moved 0.37 per cent higher.
Jaiprakash Associates (-8.23%), Hero MotoCorp (-6.19%), Larsen & Toubro (-5.90%), Tata Steel (-5.72%) and Tata Power (-5.67%) were the major Nifty losers.
Ranbaxy Laboratories (3.24%), ONGC (2.39%), HDFC Bank (2.32%), ITC (1.19%) and BHEL (0.90%) were from the gainers pack.
Meanwhile, the Indian rupee ended lower against the US dollar as outflows continued followed decline in the stock markets. The partially convertible rupee ended at 52.88 per dollar against previous close of 52.79.
Regards
RAKESH MAKIN
+91,
9041667797(DIRECT), 9915684997
OFF
0172-4657997
PANCHKULA (Haryana).
Email:makin_97@yahoo.com
Group mail id: makin97NSEtips@yahoogroups.co.in
2 comments:
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