Read my article on Nifty on my blog posted on 7th June. It mentions how the downtrend of Nifty will intensify in the coming few days and indeed how it has ! When the going is tough then any good news is ignored and bad news is magnified. Now see how tomorrow the markets react to the repo rate hike. Another good thing about the markets is that when it corrects it corrects more than it should. Hence there are few stocks that are available at a tremendous discount, yet they will fall further because people are selling stocks like the fall of nine pins. So where do we go from here. my sense is its time to enjoy the down trend, I rem there were periods of mass hysteria at 21000 when people refused to believe that markets could ever go down. I think the very same people are now predicting doomsday scenario. Markets will get back again to green ways ... it doesnt take long... a couple of 500 points rally and suddenly you are in the 16000's range. So keep the faith and enjoy the downtrend. It might be here for some time!
11 June, 2008
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