TOP TECHNICAL TAKES : VERY SCARY INDEED !
I’m not into Technical Analysis…more a Fundamental Guy…but count as some of my close friends and associates,some leading Technical Voices in our Stock Markets
So as this week closes with the Sensex hovering around 10000 and Obama winning the US Presidential Elections , I was taken aback when these Technical Voices made some very intense,bold and scary Long Term Calls
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A leading Technical Chartist ,who heads the Derivatives Desk at a leading Institution and who appears on Stock Channels regularly and is known for his macro calls,more than specific scrip calls has warned that for 9 years Stock markets will remain challenged and whatever big fall will happen…. will happen now in November itself
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A Rare Technical Report from a leading Securities Entity has studied the Sensex trends for the last 30 years and made a call that the Sensex shows weakness as it has breached earlier in 2008 a five year support line and in early October has breached the 50 months average….Sensex has now entered a structural bear market….It will fall to a range of 5720-6750,eventually finding support in the range 6150-7150…Pull Back Rally can first take it to 11500 before it resumes the fall again…This is their BOLD STRATEGY recommended
Only Trade and do not Invest
Do not average purchases
Aggressively Sell off Portfolio
Short the Market at Higher Sensex Levels
Trade Long on further 10%-20% upside with Strict StopLoss