http://bullish-indian.blogspot.com/2008/10/nifty-today-06-10-08.html
http://bullish-indian.blogspot.com/2008/10/what-is-xxxx.html
http://bullish-indian.blogspot.com/2008/10/what-is-xxxx-cont.html
If one can go through the above posts, we had mentioned our expectation of new lows as xxxx on september 29, where Nifty was trading at 4100 levels and again confirmed the same on october 06, where Nifty was trading at 3900 levels. During that period no bizz channels, newspapers or any analyst had cautioned about this, instead they were recommending to average the stocks as they said the market had already bottomed out.As per our expectation , the market had started moving downwards in next few trading sessions. It is exactly on 24 October, the day Nifty was having a huge fall from 2936, we mentioned that xxxx is 2596 and that will be the bottom. The next day we had explained the importance of the point 2596, and FNO expiry closing will confirm the bottom. The same happened and given a clear indication of bottoming out. But during this time, others had started speaking about 1300 and 900 for Nifty.
From that time, the analysts comments on investment is as follows.
Nifty at 2800 = Still more pain is left, wait for investing.
Nifty at 3200 = It is a bull rally in bear phase, wait for 2600.
Nifty at 3600 = Market is over bought, wait for correction.
NIFTY now at 4200, till now they had not adviced to Invest. Now everyone is mentioning that October lows are the bottom and market will not go below that, which we had mentioned even before market fall. Go through the daily chart of NIFTYattached above. If One had invested in any good companies as on 31/10/2008, he would have doubled the money. Just verify your self the prices now and the prices as on that date.
Reliance - 1300/-
DLF - 200/-
SBI - 1100/-
Tata Steel - 200/-
What's the next move for NIFTY??????
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