MARKET REPORT 22 JAN 2008

IT Was a scary day for the investors , and th day which might not be easily forgetten by some of the traders , an intraday fall of 2000+ points and in the end ending up with 1400 points of fall in single day .. Bloodbath all across the board .. with the cut as deep as u might not have thought off..
REL came to 1700 .. rpl , rnrl , wwil , ntpc, rcom , stocks fell like they dont have any buyers and we are in a bear markets , What we think and Indian investors should beleive in India growth story and why shuld FII withdrawing money when they know that they wont find better markets other then India..
FII are withdrawing money , in addition to that yesterday fall was triggered by the selloff by brokers on shortage of the margin call..

WIth sensex taking a minor support at 17200 lvls, closing abv 17500 lvls.

There are bears and bears all around the way ..with hangsang again down by alsmot 6% to cut of -1600 points as of noww ..
US recesion fersa re eating up the Asian markets ojn accont of fear of global slowdown ..

NO SUPPORT FOR SENSEX NO SUUPORT FOR NIFTY .. thats what the trend right now is ..
markets fell like they are on cards and from 500 to 2000 was really scary ..

IT was in talks before that once we broke the 5450 lvls . analys start talking abt 5200 lvls, 17200 is a major support if broken .. what lvls we can see ..that is the point ..

Domestic institutional came to rescue the market yesterday but was unable to do so ..

We were suggesting to stay on cash from 188800 lvls .. and wuld suggest the same today also ..
its not the right time to invest .. and better to be in cash ..

Welspun gujrat may see some more downside from these lvls according to analyst so as ongc..

Sintex looking for aquistion abroad..

Reliance Communications awards GSM roll-out contract valued at US$500-600mn to Chinese telecom network major Huawei..

another GAP DOWN OPENEING is not ruled out . we may see another 1000 point crash orr may even deeper .. a bit of recovery is expected in the later half .. but that shuld not be taken as positive count .. and shuld advise is simlyy wait n watch ..

US were closed yesterday ... and after a deep cut in asian markets it may get tumbeled to have a weak openeing today trade ..

Caution is advised . . as FII are getting money like anything .. also DII are putting money but they were not able to sustain the market ..

WE may see some how yesterday similar kind of situation today also...

IS it another bad DAY on cards .. We have to see..!!!!