To begin with...I apologize for this late post. Technology in India still has a far way to go. Uninterrupted internet connectivity is still a distant dream.( Short MTNL!!)
Personal differences aside, lets talk about the markets yesterday.
INDEX MANAGEMENT ( Won't be totally surprised if they start a course by that name in B Schools ) . If you did not notice the markets were down 300 points yesterday. Let me explain you how!
The large cap IT stocks were up 4-5% each...The Premjis and Narayanmoorthy's of the world.Banks were down on fear of CRR hike. Metals were down God knows why?! Well if someone has to rise 5% someone else has to take a beating.
The earlier mentioned levels in the blog have been tested in spirit.The midcaps were hammered yesterday to shakeout those who have got over levered.
Small stops were hit in Sterlite, Ispat and Praj Industries. Once in a while its good to have stops hit, such things keep you grounded.
Shipping sector and Power Sector looks good. Shipping Corp has given a chance to enter at 160-62 levels and the chance should be taken with a smile.
Regards,
Rahul T.
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