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Sunday, July 19, 2009

Markets posting strong upmoves



Well, in my last post I had written that markets going down is a happy scenario as it would present very good opportunity to buy, also I had written that the upmoves would be very sharp. . .well both the things happened, what did not happen was that the downtrend could never take off to present the investors with a buying opportunity. Hence this upmove was practically impossible to catch (according to me...). Now NIFTY is presenting a very interesting scenario, wherein the downtrend seems to have ended, and the upmove is about to begin. Now I think its very difficult to short, instead maybe its time to go long. . .but with a caveat, again being fearful of the sharp downmove. . .Hence this seems to be a little confusing time wherein no clear signal for a downmove is there and upmove looks more likely, however one would have to have some strict stoplosses. Well as a disclaimer, I have bought a couple of stocks GE Shipping and Cummins. Both these stocks I have bought from a fundamental perspective, since I think these stocks are quoting at very reasonable valuations and if the market holds then there is some good upmoves that can be expected. . .

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