Saturday, October 20, 2007

Back!!

Finally finished shifting to delhi.
Now need to do some unpacking.
Computer+broadband seem to be mostly working.

Market has overshot the minimum 4900 diwali target by a bit.
levels beyond 4900 (based on memory) are 5200/6000.
Since we didn't get much res near 4900-4950 expect support on a drop to that region.
More obvious/stronger support level will be 4600 breakout.
Fresh ground floor for the bull market is now 4000-4100 region.

Psychological level 20k sensex seems to be giving us the res.
20k is also a very old target.
A bit of consolidation up here.
Old tops = fresh bottoms in the strong stocks
Next target 25k then we go for 50k.
Weak sectors are the ones that didn't make new highs (IT/auto/fmcg i think)
look to short those perhaps.

Will update the site with levels once i finish downloading stock data.

Favorite sector for next decade? Telecom
Telecom will do for investors over the next 10 years what IT has been doing so far.