Market tanked when nobody wanted it to tank. This is what Cni had
predicted. No doubt 2 stop losses hit making us to exit on stop losses
because of the short calls. We are still a strong bull side site and
certainly believe all is not yet over. BILT and GTL Infra are set to
explode like TVS, Voltas and DCHL all of these stocks have doubled and
were cni first research calls. See what happens in these 2 stocks
apart from ABAN, Ranbaxy and Wockhard. In fact, the old story has
started. I have seen some broking houses buying Ranbaxy issuing sell
Ranbaxy reports. This had earlier happened in RIL, SBI and all these
stocks doubled. Now it is turn of Ranbaxy.
Market was heavily overbought and tips were coming from nook and
corner and therefore some meaningful correction was required and 3580
was ideally the best point. The moment we gave sell call market
started giving up.
At the same time it should not be brushed aside that market has moved
up beyond 200 DMA…