Friday, November 16, 2012

The Gate of the Hell

The Gate of the Hell

Dear folks if you are bull on economy and stock markets and if you had not read our last blog then you must be finding yourself standing in front of the gate of the hell. As per our last blog we did had asked bulls to exit long profitable positions and we expected return of bears which is what we really are feeling in the markets.
 Bears have successfully broken 200 DMA on S&P and if it remains below it is expected to fall to 1290.Our darling Dollar is seeing comeback and we at wiTdom had always remain in love with Dollar. Dollar Index is above 81 if it crosses above 82 then this gate of hell will be open for the bulls by the bears.
We gave Exit call on long position when Nifty was some where near 5850 and sensex was at 19000 and by our knowledge these where the recent highs for the markets.
Fiscal cliff, Tax and Subsidies are the new problems which America will be struggling to overcome in coming days. In India and else we see ca-pex cycle slowing and business confidence at very low level. Unemployment is very high and business leaders are in no mood to invest in there business. We are very sure that Europe is going to bust in coming days

Now it’s to seen how aggressive bears get to break important support levels and make this market free fall. If  Nifty stay below 5580 and 5410 then it can fall way back to 4780.
But bulls are gone fight back and try to save themselves but we think its advantage bears.

Thanking you

Atul Sikrai
Vice President
wiTdom investment advisory.

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