Weekly Trend for the Week September 17th - 21st 2007

sharetipsinfo said: "Weekly Trend for the Week September 17th - 21st 2007 BSE Sensex: (15604) Nifty (4518) 14. 09. 2007 Market is in stretched zone. Technically trend is still intact up but due to overstretched, correction is due. Technically market to come down now. Its being 2 week market has not shown any significance movement and is trading in sideway zone due to which there is no trending movement. Trend is still up but minor correction can’t be ruled out. It will be correction first then again up move and market will remain volatile throughout. The crucial support for the Sensex is at 15348 the resistance to the up move at 15868-16222 The crucial support for the Nifty is at 4444 the resistance to the up move at 4646-46700 Right now There are few scripts which are looking quite good from short term prespective. Buy them at declines . Scripts are:- PSTL PENNINLAND Reagrds Sharetipsinfo team 09891655316 09899056796 09891890425"

Harry said: "[QUOTE=sharetipsinfo] Market is in stretched zone. Technically trend is still intact up but due to overstretched, correction is due. Technically [/QUOTE] This is a weird week to talk of "correction"...more like "FED induced market reaction". Yeah I feel like the maket is going to dip this week and create excellent buys, but I fear that is I sell my gains on Monday that the market will do put a whammy on me and go up. :confused: I'm looking for reasons to sell some of my protfolio only to repurchase later, but my risk assessment says "Ride the wave"...drops will recoup, and if I sell stocks may not drop. AUY...has floor from world economies CHK...will buy more on a drop KFT...defensive dividend play RDC...near low anyway T...defensive dividend LVLT...near low anyway...will buy more on a drop It's going to be an educational week. :lecture: There's a lot of downward guidence built into this next earnings season which can provide some upside suprise."

JAP said: "[quote=sharetipsinfo] Market is in stretched zone. Technically trend is still intact up but due to overstretched, correction is due. Technically market to come down now. Its being 2 week market has not shown any significance movement and is trading in sideway zone due to which there is no trending movement. Trend is still up but minor correction can’t be ruled out. It will be correction first then again up move and market will remain volatile throughout. The crucial support for the Sensex is at 15348 the resistance to the up move at 15868-16222 The crucial support for the Nifty is at 4444 the resistance to the up move at 4646-46700 Right now There are few scripts which are looking quite good from short term prespective. Buy them at declines .[/quote] Volume has been pathetic all week. TA does not hold much water in a low volume market. Quite simply... Tueday's FED rate decision will determine the direction of the market. Of course, there will be plenty of volatility directly after the announcement."

Corey said: "Well, JAP, can you blame people for not buying? With the Fed move a week away, why not wait to see what they do? It would have been quite a gamble to buy last week. I take it neither as a bullish or bearish sign -- people are just being 'conservative' at the moment ... which seems rational ... which seems rather un-market-esque..."

Harry said: "[QUOTE=JAP]Quite simply... Tueday's FED rate decision will determine the direction of the market. Of course, there will be plenty of volatility directly after the announcement.[/QUOTE] I don't know about the direvtion of the market. I'm thinking the decision may simply determine the depth of the decline."

DaveinJapan said: "If that's your take on things, why not sell all your stocks now and go net short for the day?"

JAP said: "[quote=Corey]Well, JAP, can you blame people for not buying? With the Fed move a week away, why not wait to see what they do? It would have been quite a gamble to buy last week. I take it neither as a bullish or bearish sign -- people are just being 'conservative' at the moment ... which seems rational ... which seems rather un-market-esque...[/quote] I don't blame people for not buying. You're right, it's not bearish or bullish. Sept 18th sure is taking a long time to get here :whacky011: One more day of this waiting game."

Rbreb13 said: "Its not just the Fed meeting. There's alot on the table for next week, including options expirey on Friday. Its gonna be NUTZ!"