Black Monday gone now see the touch to 16000

Recap:

India cements gave a profit of Rs 69/-, Reliance gave a profit of Rs 450/-, Indra medco gave a profit of Rs 1.5/- and TISCO gave a profit of Rs 153/-. Hope all the readers who traded with trust must have had made a lot of money today.

Stock Market trend:

It took me a lot of time to analyse the correct trend reading the charts and I have come to following conclusion that a technical bounce back will occur but market thereafter may again break to touch 16000 levels as per Fibonnaci analysis of the chart. If you remember I had already sounded the warning bells a few days back and title of the post was warning Bell only. Holding of Nifty 5501 is very important. I knew the direction of market and that was the reason only sell recommendations were given.

Warning: Use every rally to book profit and avoid going long till the trend of the market is not clear. Avoid going for Futures as one is likely to burn hands and do not bank on borrowed money. One can have an eye on quality stocks and can buy only when market shows some strength.

Strong Future Stocks

Kotak Bank
Bank of India
Educomp
ITC
Sterling Biotech
Sun Pharma
Siemens
Voltas
Uniphos
Cipla.

Weak Future Stocks

JP Associates
Nagarjna Fertilisers
Oswal Chem
Chambl fert
Lanco Infra
Essar Oil
Parsvnath Developers
Bajaj Hind
Ansal Infra

Day Trading
Sell TISCO < 698.9,650,626 sl 710
Sell Tata Power < 1188.9, 1150, 1139 sl 1201
Buy Ranbaxy > 370.1,398 sl 364