Hi Friends.
As expected we opened gap down and were almost swiped away by the bear flow before some short covering took place. We have been telling you to be in cash from the 1st week of January and I hope all those people who had long positions would have understood why I was telling so... markets have taken a beating in the last 2 days and the longs would have meant huge losses. OUR NIFTY 6150 PUT (Hedging call) was given @ 125 last week.. made a high of 362 today. It had almost tripled.. What else do u want in a week that too on a Hedged Position??... It was a BUMPER call.. Kohinoor Broadcasting hit the upper freeze again before cooling down a bit in the late trading. Compact Disc hits another upper freeze. BNK Capital and Kohinoor Broadcasting are stocks to watch out for in the coming days. ALthough I still maintain that dont buy in huge qty and dont invest more then 50% of ur capital till budget. Markets are expected to remain highly volatile, we might see some recovery for a day or two but overall I feel some more pain is left in the markets and this can continue till the RPOWER is listed. You can see how the RPACKS are controlling the markets right now, till the RPOWER IPO was oversubscribed the market was for bulls, suddenly after the oversubscription the markets started tanking and it tanked below 5860 support level today but recovered later. We might see another round off sell off in the coming days... So we can be moderately be cautious.
Happy Investing
Investomaniac
JAIDADIKI
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