The markets lost every thing they gained as the fear crystalising and shadow of US economic slow down are fast spreading the Asia and other emerging markets. The Indian ADRs lost more much value as HDFC bank lost more than 7%, ICIC Bank lost 5.77% and the tech pack lost around 2.5%.
The Hang Seng lost 345 (1.68%), Nikkei lost 131 points (1.06%) and our SGX Nifty is trading around 4445 level.
There was no such deviation from the earlier levels but the gravity favouring the bears. So the banking lot is most favoured sector to sell. ICICI bank may again see 680 levels, even less. The SBI has support at 1496-93 level, Relcap has support at 1286 level and the best could be at 1269-71 level.
The other stock has earlier levels suggested are valid for this day.
The STOCK-TRADING is a “Skill-FULL Job”. NEVER blame others for the LOSS/DEALS.Never Forget: I may be wrong, You may be wrong but markets always RIGHT.
Wednesday, September 10, 2008
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