Friends,
Market was up by 450 points and that all the loss it made in last 2-3 days was covered up.
People are still shorting the market.People are still short in Nifty and they never imagined that market will come up so fast and so swift.They have shorted nifty even at 3000 and less.
I donno what macro economics indicators they follow but I would like to write here that one should always look at indicators which are very easy to track and also good hint for things to come.
I have written here many times that one need to observe the Crude prices.The day crude goes over $50 it will show that global economy is stabilizing.Need to look at the commodities as well.
Bovespa is up from 33k to now 50K.Bovespa made a high of 72k and went 50% down at 33k.It is back at 50k.This shows that commodities are again going up.Crude is above $50.
That was enough sign for me to become bullish.But people go on seeing macro and micro indicators and they get lost in it.
Even Ramesh Damani is making the same mistake I think.I am no one to write for him but according to him , he is also surprised by the strength of this rally.He now says that if sensex remians above 12700 for few days then he needs to rethink about this rally.
My observation that before results are out sensex can touch 12500 seems to be coming true.
Some of the readers asks me about some stocks.
I am giving the answer here to them as well so that everyone who track my blog and read it if they do not read my replies in comment section.I had written many times here , please read my replies to any reader.One can get a clue what to buy from there as well.
Well, coming back to stocks someone asked me about SA Petro chem.I was also asked about Bio Green.
I have to write to them that when some great fundamental stocks are available very very cheap then why we need to look at some stocks which has less earning?SA Petro and Bio Green seems to be OK but they will take time to grow hence we need to look at stocks already grown and on verge of exponential growth.I have time and again given list of stocks to look at.The reason giving the LONG LIST is that one can choose from the whole list and pick which looks good to invest and comfortable with , pricewise, valuationwise , earningwise, saleswise etc.
Many do not like a long list but I give them choices to select where they wants to put money in.
And I am always there for any question to answer that is asked , what is the reason I have recomended it.The list is always long and hence I do not write information on any stock.As I had said earlier that I have no inside info I just track so many stocks which is very difficult for others to track and hence I give big list so that atleast from that they can try to explore as much information of that stocks where one wants to invest.
I always have tried to see that readers try to gather all the information on their own.Try to look at the bse site and
1) Read Annoucement(all including archieves)
2)Results
3)Share Holding Pattern
4) Google( write the name on the google and find the site and try to understand their product, collobaration, etc)
These are the things one needs to find on their own because the CONVICTION comes only if you have researched by yourself.
That is my main aim.My reader should have conviction in what they are investing.So trying to find facts on stocks becomes easy atleast when you already know the name of the stocks.That is what I am trying to do here.Though I have given information in details for some stocks as well but is not possible for all stocks but one is always free to ask me about any stocks whether I have recomended here or not.If I am knowing anything about it I will reply for sure.
Well, market is going to remain in positive zone and now 3200 should act as a majot resistance.As I have written earlier we can cross 21k by next Dec 2010. I am seeing this prediction at some other paid site as well that is what someone told me.
Good that someone is thinking the way I am thinking.I am becoming more and more bullish with passing of time.