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    • STOCK ADVICE INDIA

    Sam Mittra

    INVESTMENT CONSULTANT
    Since my last anaysis report, nifty tried to make an up move but failed to cross recent previous top of 5180 and dipped below....almost a double top is formed ,This indicates a change in up momentum and a longer consolidation period...finally up move has a solid barrier to cross ....that is 5180-5300 zone becomes a high resistance limit which must be decisively crossed to resume up move..........The present circumtrances do not favour therefore we expect a stable to negative bias unless 4400 is breached..........in event of going lower than 4400 nifty faces bad times.

    Dubai financial meltdown has created a fear of more bad news yet can come internationally..mind set of investors is getting no positive impulse...... we will hv to wait to really know what market is up for now.

    Such periods call for just swing trading(trading limited to 3-7days) and take no long term decisions in serious way as fear of downturn looms over the world economic situation.And more over other asset classes like gold are showing a bull run,liquidity finds a better return hence may not chase high P/E stockmarket investments for yet some time more.

    Patience is very important , even more important than finding a good investment opportunity....so jump into stockmarket investments only after confirmation...... this reduces the risk substantially.

    I Watch for 4850 nifty level, not breaching this for few days more can help market rise in short term and voilating 4850 may take us to 4400-4500 level

    More another time

    Happy stock Investing

    Sam Mittra
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