Everyone will be impacted now as this is a very serious global horror show. The world economy led by US has sunk into a recession. We`re in the middle of a very dark tunnel. cracks are quickly adding up.

DOW went below 9000. You will see SENSEX below 10,000 very soon. Dow falls more than 660 points to trade below 9,000 in late afternoon sell-of.

The selloff came as Standard & Poor`s Ratings Services put GM and its finance affiliate GMAC LLC under review to see if its rating should be cut. GM has been struggling with weak car sales in North America.

The action means there is a 50 percent chance that S&P will lower GM`s and GMAC`s ratings in the next three months.

General Motors Corp. led the Dow lower, falling about 30 percent.


Sunny!...

Identification of key support and resistance levels is an essential ingredient to successful technical analysis. If a support or resistance level is broken, it signals that the relationship between supply and demand has changed. A resistance breakout signals that demand (bulls) has gained the upper hand and a support break signals that supply (bears) has won the battle.

But at this point of time, it looks like a free fall. Prediction of support for any script will be difficult & risky. So be very careful about it.

Sunny!
...

Today`s global rate cuts have reduced the risk of a market crash, but it will not resolve the crisis that we are dealing with. Financial market crisis has unfolded even quicker than we expected.

Watch it --- The Dow is going to 7,000, but over the course of months --- unfortunately for bulls like you.

The policy response is going to become more aggressive but a steady flow of bad financial and macro economic news is going to push down equity markets. Forecasting a real bottom won`t be hit until sometime next year. DO NOT PREDICT THE BOTTOM.

Because of growing slack in the global economy, deflation is going to become a much bigger threat in the next six months vs. inflation for global economy – example – look at oil prices.

My advise – If you wanna play safe: In such an environment, cash, Treasuries and gold are the only safe bets.

If you want to be rich: Do a short on United States of America :-) Short DOW, Short NASDAQ , short S&P 500.

All the best!
...

His prediction about the support level at 120 will prove wrong very soon. This is not the time to follow these predictions. Noone can predict the bottom right now.

Sunny!...

U.S. stocks declined for a fifth session straight, extending a sharp sell-off that has the major indexes trading at or near four-year lows, as investors found little relief in the Federal Reserve`s latest steps to ease frozen credit markets.


These are not the times to think about support & resistance levels. Markets are not correcting but are re-evaluating. This is about some serious global recession.

The financial crisis could extend the difficulty the economy is facing. Interest rate cut could be in the offing.

We should be very worried about the financial companies like Bank of America, which after the closing bell Monday slashed its dividend and reported that its third-quarter profit fell 68 percent. The stock fell $6.18, or 19 percent, to $26.04 and was the steepest decliner among the 30 stocks that comprise the Dow industrials.

Financial companies will continue to face cash shortages & that’s the huge global concern we have.

Overseas, Japan`s Nikkei stock average fell 3.03 percent. Britain`s FTSE 100 rose 0.35 percent, Germany`s DAX index fell 1.12 percent, and France`s CAC-40 rose 0.55 percent.


Sunny!
...

Global financial markets crisis is likely to restrain the economy well into next year. The threat of inflation has receded recently, while the economy has continued to weaken.

Overall, the combination of the incoming data and recent financial developments suggests that the outlook for economic growth has worsened and that the downside risks to growth have increased.

Sunny!...

The trend is very negative. The severe drop in stock markets on both sides of the Atlantic on Monday reflected not only those fears, but also a growing belief that the crisis could tip the world into a global recession.
Indeed, the ripple effects from Europe and the United States were amplified as they spread to stock markets in Russia, Brazil, Indonesia and the Middle East.
It looks pretty ugly down the road.
The next levels to look for RPL will be in between 107 -- 117.

Sunny!



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im getting news frm religare sensex wil touch 7800 levels...can it come down to such levels??? i m invested in rpl n mtnl...not worried much about rpl..but mtnl is worst..biggest mistake i have done..i bought at 112 rs 50 shares..will it reach ever in my lifetime at that levels..plz reply..i can hold for 1 to 5 years...

Bigger bull run yet to come: Rakesh Jhunjhunwala. I think my greatest patience with the market was in 2001 September to April 2003. That was because I was a lone bull. I wrote an article in the Economic Times in June 2002 that India is on the threshold of a structural secular bull market and people said, he has bought stocks and he is caught and now he is asking us also to come into the cage. People didn’t just believe what I thought or what my opinion was. That was a testing period. Numerically - surely, since we have broken the last lows that we had in August 2007, we'll have to term it as a bear market. But I don't think the long-term Indian stock bull market has ended. I think it’s in interruption mode. This bull market is based on two factors. One is economic growth of India, which I think is based on factors that are irreversible, whether democracy, whether skills, whether demographics, whether cultural factors. They are irreversible. I think India’s economic growth will always trend upwards. ...

Dear Sunny Chopra Thank You for exchanging your views on MMB. Regards victor5 {Vivek}...

Dear Sunny Chopra What is your opinion now on Hanil Era Text.? It has bounce up significantly What is your view now? I am too holding this but around these LTP only Regards victor5 {Vivek}...