Thread: Would the markets recover or are we in for a major correction?

Everything was fine till the finance minister started his budget speecs... sensex went down by 900 points aprox and some stocks were hammered like anything.

I myself got burnt with sail, tata steel and telco I have got delivery of them all.
Suzlon is another one which is in a deep pile of poo after the budget was announced.

Do you think these stocks will recover within the next week or so? Does anyone see sensex touching the 15k mark again within this month?

I know some of you pros dont even look at sensex and would talk in terms of Nifty but excuse my ignorance I have always looked at sensex like a layman

In my opinion we are in for a correction from here and then a bull run once we come down to 12500 something within this week...

Would SBI plunge furthur or do you see it recovering 5-6% in tommorows session?

the crash was primarily a knee jerk reaction to the failure of the FM to remove the STT. the markets are expected to stabilise as soon as good sense prevails.

I too think that it was a knee-jerk reaction on few expectations not being met:

- Nothing on Divestment
- No further opening for FDI in insurance
- A deficit higher than expected
- No benefits for housing
- Nothing significant for personal income tax
- Duty structure more or less the same

By the looks of it ...15k on sensex is very much on the cards some time this week Suzlon is recovering ... I have got suzlon at 109

Ive got tata steel, tata motors, sail, SBI and unitech as well which I bought when sensex dipped after the budget thinking 1000 points is the max sensex would go down due to disappointment .... will have to wait and see... although the growth story looks promising but sensex would probably stay below the 18k mark this year ... and 12k on the downside.... the key is to ride the waves

PS: I am not suggesting anything ... its just what I believe in so please dont just blindly go and buy the stocks whcih I am holding... I am holding them coz I am stuck in them and wont book losses...

I am still thinking that market will show wild swings on either side. Goldman has posted good results and that brought cheer in NYSE and the sentiments reflected here.

I am guessing that post Diwali should reflect the way we are going to go.

Yeh thanks to the Goldman sach results, markets are showing some recovery

I am expecting a massive gain in the markets today like yesterday and I will be out of the market if sensex touches 15k in the next 3-4 sessions

I myself got burnt with sail, tata steel and telco

one friendly seggestion....when u already got a share one company of one sector (metal in ur case), don't touch the other shares in same sector.
i my self got lil amount shares of diff sectors : bank, Power, Infra & oil. plan is simple, if the one sector underperformed then the other can componsate it & over a long period i will wash hands in profit.

now back to topic: I am somewhat uncomfortable with the upper ckt we got on market after the UPA came in power. i really don't think any market got so many ckts in last few years (starting from may06 till today: two lower ckts & one UC.) os unless the market corrects handsomely, i think the frear of going down will b always there. we may see some recover or bullish movement form time to time, but dont forget, the bull is not as strong it was in 06-08. so don't expect u will be in profits like happened in b4. i think market need to correct some more to start one strong rally once again.

I normally watch nifty & i pointed out this chart this morning. its weekly nifty chart.

You are right in what you said Logik.

Its 9:44 got another 11 mins to go for the markets to open

Market will open on a very strong note today ....

Coming back to the stocks from same sector thing... the reason I have got them is that metals are going to rally big time and will be stronger then any other sector right now besides real estate..

Tata motors might have sounded like a stupid move but you watch this stock move today

If Tata motors doesnt take off like a rocket today I will shave my head off

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Another 4 mins to go

Tata motors closed at 296.20 yesterday ) keep an eye

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09:58- Tata motors up 3%

Sensex up 124 points

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10:39 - Tata motors trading at 310 up 4.6%

10:52 -- tata motors trading at 312 up 5.2%

Today is the Nano launch day. So there is a lot of movement on Tata Motors front.

Somehow could never understand such (irrelevant?) sentiments.

Movement in tata motors was not due to nano... its the 500 million which JLR is going to get from the British government.

Tata motors closed 6.7% higher at 316 wasent bad eh?

Ok. Was not aware of that.

Market gained nearly 500 points today.

SAIL was up 7%

yo admin, i never knew u do Tachnical analysis
BTW, i shaved ur head?? (TATA motors up 7% )


IMO nifty has immediate resistance of 4.4k on closing basis.

4400 should be broken on Monday if there is no major news from USA which could bring the market down on its knees again...

I see NIFTY touching 4780 before 31st of August on a intra day basis... and close above 4700 which wont be sustainable and will be a result of a very steep bear rally..


Tata steel : if it goes above 400 on intraday basis will close above 419 and see another 12-15% rally before loosing steam in the next 10-12 sessions.. an extremely good bet for the long term
399 is a very stiff resistance for tata steel on intra day basis and once broken will shoot up like a rocket as there will be massive amount of buying in this stock above 401 level

PS: I am not expert and I loose money in the market just like every one else does from time to time

SAIL is going to be a kick ass bet today... Watch this stock rise today.

4500 on Nifty? well you never know we might close above 4500 either today or latest by Wednesday if there is no major negative news.. any significant positive news from the world markets will push NIFTY to 4680-4700


Watch SAIL today

20jul09
OHLC for nifty S&P CNX NIFTY 4377.9 4510.3 4377.9 4502.25

nifty closed above 4400
the recent high of nifty in intraday was on 12jun 09 : 4693.20

i think 3-4 closing sessions above 4700 can easily push market to 5k levels. offcourse assuming no really bad news from world markets.

one more point, profit taking is always there after small/med/big rallies. never forgot this.

Tata motors, SAIL and tata steel ... I am long on these counters for some time now and if there is another 4-5% surge in any of these counters I am going to nail the head and call it a day for all of them...

Market doesnt have much upside left it in now unless some crack head FII's drop in with their dollars... domestic investors are tired and wont do any good to the market in todays session.

If Nifty closes below 4500 today then I would be the first one to pull everything out of this market ...

Yesterdays session was a bit boring.

Market will open with a massive bounce and carry on with the gains for some time after which the decisive direction can be achieved after 11ish when the market can go either way ... I would love to see a close above 4520 today to get some clarity on whats going on...

Well since this discussion was an old one ..I presumed that All is well now ..and in the road to recovery..as what i have observe too..but just curious on what is the present updates pn today's Market...