Non Resident Indian Business Forum

Non Resident Indian Business Forum

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  • Raghvendra Narendra Dhoot
    Raghvendra Narendra Dhoot    Group moderator
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    Raghav’s Picks -:- Weekly Technical Outlook for the BSE Sensex and NSE Nifty – 28th October 2007
    BSE Sensex (Reuters – .BSESN) - 19243.17 as on 26th October 2007.
    NSE Nifty (Reuters – .NSEI) - 5702.3 as on 26th October 2007.

    Raghav’s Picks Sensex Volatility Indicator

    22-10-2007 - 253
    23-10-2007 - 246
    24-10-2007 - 233
    25-10-2007 - 221
    26-10-2007 – 222

    Last week’s fears of a weak short term trend were allayed with no signs of any slowdown in the foreign liquidity flows. Going forward the Sensex could take a leap towards touching 20000 in the next week/10 days. (Sustaining above the 20000 mark is still a question that needs to be answered.)

    The crucial aspect going forward would be to sustain above the 19000 level on a closing basis. As long as we are above the 19000 mark, a “touch and go” at 20000 is nearly certain.

    Short term investors need to keep tight stop losses at present and fresh long positions.

    Medium to long term investors will be at a loss with respect to new buying ideas, they can continue to hold on to their existing positions, as well as accumulate more at dips.

    Given the strong liquidity flows, the credit policy announcements later in the week, whether good or bad, could turn out to be non-events for the markets.

    For detailed market analysis, investment, trading calls and, advisory services with respect to investing in the Indian Markets, please mail me on raghav@raghavs-picks.com or use the personal message link: http://www.xing.com/go/privatemessage/RaghvendraNarendra_Dho...

    Raghav @ Raghav’s Picks
    • 28 Oct 2007, 4:23 pm