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 Predicting the market turnaround ! (Thursday - 29th ???)

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OneRupee



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Join date : 2011-09-21
Age : 36
Location : Colombo

PostSubject: Reply !   Mon Sep 26, 2011 3:25 pm

@ Doctor VJ,
I agree with your prediction.
One could expect the market to be in Red zone till Friday, although as you correctly mentioned, buying will start building up from Wednesday onwards.

The important thing is to identify the best counters !

Let's try to build a discussion around that.
Cheers
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Doctor VJ



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PostSubject: Predicting the market turnaround ! (Thursday - 29th ???)   Mon Sep 26, 2011 3:03 pm

The market has been on a steep decline over the last 2 weeks due to the mere fact of force selling by the brokering firms. Investors expected a steep increase in prices of certain counters during the Much Awaited Superb September as per Daily FT, which never materialize. Instead, such expectations put many retail investors in jeopardy as the market went from Red to Blood Red.

However when you analyse the reasoning behind market downturn, it's apparent that forceselling should ease off by tomorrow, and by Wednesday (28th Sept) the latest. Which means this should be the ideal time for collecting some of the selected counters.

Today's upward trend in the morning was not really a positive signal of buying. It was only due to the movement of some index heavy counters. However by analysing the past two weeks, one could expect a real turnaround by Thursday (29th).And that should hopefully continue for the following 2 weeks.


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