@For the week ending August 19.
The week again saw a fall of around 4.5 % in the index taking down the pack with it.A lot of stocks lost much more and IT and Banks were the big losers where the indexes lost 5.6 % and 7.5% respectively.The stocks right now may appear to be at a good level relative to the highs that they have made but the fall may just not have been arrested yet.Anyway a bounce or relief rally is on cards given the extent to which the markets have fallen but for that certain levels are to be followed..
| (Rs. crore) | ||||||
| FII | DII | |||||
| Trade Date | Buy | Sales | Net | Buy | Sales | Net |
| 19/8/11 | 2,816.01 | 3,718.62 | -902.61 | 1,653.42 | 1,230.17 | 423.25 |
| 18/8/11 | 2,388.42 | 2,877.09 | -488.67 | 1,291.78 | 961.36 | 330.42 |
| 17/8/11 | 2,262.74 | 2,670.42 | -407.68 | 1,061.56 | 892.14 | 169.42 |
| Aug , 11 | 32,308.95 | 41,265.45 | -8,956.50 | 22,165.39 | 15,445.98 | 6,719.41 |
| Since 1/1/11 * | 409,259.50 | 423,255.23 | -13,995.73 | 194,740.41 | 173,708.39 | 21,032.02 |
FII's have been on a selling spree this august as you can see in the report downloaded from bseindia.com.The continuos downtrend and the selling pressure is not giving the market opportunity to bounce back.To add to it the continuous fall of the American indices Dowjones and Nasdaq are also falling continuously.Let us see the charts to get hold of the situation..
Nifty short term charts show that the index is in a downchannel even in the short term timeframes and no indication of upmove can be seen.Only hint of a rel;ief rally can be seen if the downchannel is broken which would cause the short term shorts to run for cover and cause an upmove.whether the upmove will last is another question.
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@For the week ending August 5
The global cues has been causing a lot of volatility in india also and this time it was broadly on the downside.The gapdown open resulted in nifty testing sub 5100 levels.Though there was a recovery intraday , nifty still closed 120 points down for the day at 5210 levels.
The global cues has been causing a lot of volatility in india also and this time it was broadly on the downside.The gapdown open resulted in nifty testing sub 5100 levels.Though there was a recovery intraday , nifty still closed 120 points down for the day at 5210 levels.
Now as per what i read the bad news has not stopped coming in and the culprit in most cases is the US. In a new developement S&P lowers United States credit rating to AA+ which is reeling under deficit ,unemployment problems. But as what can be considered a rare good for the scenario is that the unemployment rate has reduced to 9.1%. There are talks all around of the country falling into a double dip recession again.If that happens then be very sure that we are in for a trouble again bacause the shocks are sure to travel across the continents.
What are we supposed to do now ?? Well ..Here are some charts presenting what can be expected..
All the charts above ( Sensex , Banknifty and Reliance India respectively ) here show that the downtrend is still very much on for the short term though there is a possiblity of a quick retracement.If it happens and sustains we will again try to analyse the fact that its just retracement bounce or continuation of the Major uptrend.Till them no major longs advisable on the upside.
