Caution and Contrarian view: Nifty has seen addition of PUTS in 5000 one of the highest in recent time and normally option writers are considered most brilliant people in the world and they price in the hope of the mass people. So breaking 5000 would be very difficult as per this theory and if this level is broken then the market never falls it normally crashes as we have seen in 2008 January.
Nifty has formed triple bottom around 5092 and 4th time all possibility that can break but in case 5090 is held then a rally till 5155 & 5200 can be possible before any major correction as VIX has been @ lowest point for many days now this market can surprised either side as before VIX didn’t so low for long. India VIX has closed at 20.09 which is lowest since launch of index and in a dull market also overseas investors have been net buyers of Rs 10,000Cr after budget whereas Domestic Institutions have sold Rs 3576Cr and Retail has also not participated, it would be a worry if FII buying now stops or NMDC issue subscription hardly sails through.
SUGAR stocks saw major sell-off and looks like they would face one major selling pressure before any stability in case of rally better would be to exit sugar stock, BALARAMCHINA, TRIVENI, RENUKA and BAJAJHIND are biggest loser in F&O stocks with fresh short position added.
Tata Steel hit by Orissa Govt's blanket mining ban order http://www.thehindubusinessline.com/2010/03/11/stories/2010031153700100.htm Steel prices are set to rise further with the recent 55 per cent jump in benchmark international coking prices.
World Richest Man has used crisis to his benefit
Businessmen, do more good by creating jobs and wealth through investment, "not by being Santa Claus." Mexico's Carlos Slim http://prabhakar-views.blogspot.com/2010/03/worlds-richest-man-mexicos-carlos-slim.html World’s richest man Mexico's Carlos Slim
Tax payment, bank credit, NMDC issue to suck out cash over next three weeks, NMDC public issue can mop up over Rs 11,600 crore from the system http://www.business-standard.com/india/news/liquidity-may-come-under-strain/388034/
DOMESTIC institutions and top brokerages that run proprietary books are likely to reduce their participation in the market to account their books for the fiscal ending March 31. Market sources say, top brokers, who have sizeable proprietary books, have already stopped making bulk purchases in the market. Brokers say that most of the proprietory books and institutional funds are said to be in no mood to invest in the markets also that valuations are turning costlier by the day. Proprietary books constitute approximately 30% of the total derivative volume, according to industry estimates.----ET
