Sunday, June 29, 2008

Confusion Galore.......... Are we junked yet?

No -- don't let your spirits down yet -- we are down but not out. One of the biggest indicators being the 'Non Revision of growth rates for 2008-09'. Don't you take it lightly - it goes on to say the the interest rates hike will be a negative on growth and the consumption may come down a little, perhaps investments then might also come down from very high to high. it's not all that bad when you look around the world. On the other hand this statement could well be politically motivated. The Bank too have started revising their estimates downwards. Under the circumstances -- though we might be the survivors but surviving will become more difficult with each passing day. So in the short term we may continue our journey downwards, though still on long term the nose may be facing north.

The world markets closed in red and that will continue to bug us - and there is very little anyone can do anything about. a lot will depend upon the opening of Asia today early morning, Nikkei has opened flat and does not really know whether to go green or red. Top it with the fact that the US markets will have a shotter week - 4th july being a holiday.

Candles? Two white candles and then one black that almost encompases both whites in a bear grip. Add to the brew -- MACD red line below blue and gap widening, TRIX down, TRIN bearish (jaggu's input). All this hardly leaves a room for us to go green -- but wait -- SlowStochastic and RSI may (MAY) help us open green - thereafter - may slip or close flat depending on fireworks on political front or Europe's conduct on the first day of the week.

Who agrees on shorting Infosys? Who wants to go long on L&T? Please do post -- all for helping each other.

Have a Britania Good Day - Ting


allvoices

3 comments:

geniusjaggu said...

cheemaji,
true to ur post title "confusion galore"

Is LEFT RIGHT on Nuke deal?
Is RIGHT LEFT??? on nuke deal!!!

Is oil gonna up to $150?
or gonna tank to $100????

britannia 50-50 ting tingda ting...

Uma said...

Genius: We only know that Left has Left!

S S Cheema said...

I agree Uma and Jaggu -- we are not going anywhere till this is over -for good or for bad. But the we are falling on anticipation -- it might show daylights to shorters if it does not happen this way -- maybe even if it happens this way - we may recover.