October and Stock market

True to its character, the month of October proved to be a damp squib for the stock market. The Indices moved nowhere for the whole month, finishing at the same level where it started. And it gave a scare of sorts to lot of Technical Analysts on the last day(29th October) when in broke their so called critical levels of 5950-5960 in Nifty and 19865 in Sensex intraday. But then with the regular index managers, it was propped up back to 6000 and 20000 - to sooth their nerves for weekly/monthly charts. While the indices have fallen just 5% from their recent tops, so many stock have fallen anywhere between 10% and 20%, as is always the case. The Huge volume in the F&O segment along with the recent volatility suggests that's market is likely to take a directional movement soon. IMO, there is more likelihood of being downside than upside. I am waiting for this correction for the last 3-4 months but that's is stock market for you. It will choose its own time to move where it wants to move. Lets be prepared for such move to pick good stocks and build our Portfolio for long term wealth creation. Best of Luck!!!!!

LONG TIME NO SEE!!!!

Hai friends, it has been long time since I wrote in my blog. The Indian stock market is going from strength to strength, atleast Indexwise, much again my expectation of a good correction from 5400-5500(Nifty) levels to 5000 levels. but many of my market friends say that they are not able to make money as most of the shares in their portfolio are not moving up. So it is only the FII money which is propelling the index to newer heights. Most of the problems in the western world are still far from being resolved with TIME being the only healer. But the outlook for India in particular, among emerging markets, is quite positive inspite of all its inherent problems. I am happy that the stocks I have been recommending are doing well, like Spicejet, INOX Leisure, Cairn India and IFCI to name a few. I am still convinced that there will be a sharp correction of 300-400 points in Nifty and 1000-1200 points in Sensex sometime soon but when and from which level is really difficult to predict. Lets wait and see!!!