Dear Friends,
Just came back from Ganapatipule - markets are again at 14800 bse 30 and 4420 nifty50 level near January2008 bottoms - possible double bottom in 3 % range-
Bullrun is STILL INTACT.
For June2008 to Dec2008 , the laxmanrekha for traders is, 3966 nifty 50 level and 13786 bse 30 index level,
below these levels- BEAR ZONE but above them, STILL BULLZONE as per YEARLY charts.
Now is the BEST TIME TO SQUARE OFF ANY SHORTS AND INITIATE FRESH LONGS with stoploss at above levels.
Election in USA will TURN the direction of market - at present most imp event for whole world.
As predicted in beginning of year , crude is near 150 usd per barrel , US dollar rallied as predicted from april 2008.
Interest rates are rising as expected.
Rise in interest rate will attract funds from other countries and we will have good debt market which is still in infancy stage- in next 3 years we will have matured debt market with GOOD LIQUIDITY.
Elections in INDIA will be also a major factor in near future- buy good stocks in any panic.
Worst levels for bse30 index - if and only if it breaks 13786 level in year 2008,and closes below that level at end of current year 2008 then only downward target 8194 bse 30 index level.
At present we are still in bullzone at 14900 bse30 index level today.
This is litmus test for the trend, if bulls still wish to continue and have the required strength and money and willingness, they will support by buying at present and if they are tired, they will offload -thus level of 13786 in bse 30 index and 3966 in nifty 50 index are the levels to watchout for.
As predicted and written in beginning of current year i expected markets to remain in sideways move for 2 to 3 quarters- 2 quarters are almost over now and 3rd quarter will be july-sep08 quarter thus buying time has just begun, valuations have come to attractive levels in many shares now for safe buying than they were earlier.
Second half of 2008 will determine the future for next 3 years.
Wish you all profits and peace of mind,
Do not play F and O- it will make you bankrupt-
warm regards
Vipul Lashkari
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