markets have shown us time and again that why the value of put is always more than a value of a nifty call???? in the last two months of the nifty carnage every pullback rally has failed to sustain at higher levels.after the cement sector worries we are now facing an unexpected and untimely repo rate and crr hike. the crr hike is much more dangerous as the hike is of 50 basis points. i wont waste much of your time discussing crr and repo rate hike because i believe from past two days you must be hearing every analyst on cnbc and ndtv talking about it.i will requset you all to take part in different polls in our orkut community..coming back to markets i can just say "REDDY WHAT HAVE THOU DONE" the crr hike was totally unexpected from the markets point of view .expect the interest sensitive sectors like banking auto power sector real estate to be worst hit for tomorrow.i am just using three words so that traders become cautious"PROTECT YOUR CAPITAL"if mr reddy would not had announced a crr hike than i would had most comfortably said that the downside is over .but the crr hike has more than what meets the eye.we have a strong support on nifty at 3695 levels and i expect it to hold atleast for tomorrows trading. what i will suggest is try and buy stocks on wednesday and dont exit at lower levels.fridays trading proved that traders will move market on the upside on this series so buy on dips is all i can advise.the another part of the story is that on monday and tuesday markets will fall ..............
sectoral view
strong[buy on dips } fmcg pharma oil exploration steel
weak banks, it , auto , real estate
nifty supports 3710 3655
nifty resistance 3850 3985
our view : do not trade at all. and if you cant resist buy select fmcg ,it and pharma stocks at lower levels .they will lead the next wave of the relief rally or the actual rally .....only triggers will tell......
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