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Your Views On Gap up Opening Today

Discussion in 'Traders Coffee Shop' started by shabbir, Sep 14, 2012.

  1. shabbir

    shabbir Administrator Staff Member

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    US Markets are up and so as expected Indian markets open gap up but inflation is not going down and Indian growth is really being hit by higher interest rate and on top of that Diesel price hike to take inflation up further.

    Do you think this upswing is justified in today's market.

    What are your thoughts on this?

    My view is market is a market and it swings on sentiments and so never justify the market movements. Ride the upswing but don't be too optimistic about it and be sure to be out of the market when your targets are hit.
     
  2. charuhas31

    charuhas31 New Member

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    I think what really pumped up market today is diesel price hike, which was never anticipated. But as rightly pointed out by shabbir, instead of thinking too much about economics, enjoy the ride with Technicals.


    Charuhas
     
  3. sujan4bw

    sujan4bw Member

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    Fundamentally its not at all justified. Though there is gap up , yet many stock are trading flat from there respective opening range.
     
  4. charuhas31

    charuhas31 New Member

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    In fact, this gap up must have triggered few stop losses for short positions, so there may be further upside in closing hours due to short covering

    your views pls..



    Charuhas
     
  5. hydrolalesh

    hydrolalesh New Member

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    market was trying to go up diesel price gave it a boost
     
  6. masihpatel

    masihpatel Active Member

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    I am totally agreed with Shabbir Bhai. I feel Monday may be the day of profit booking.
     
  7. shabbir

    shabbir Administrator Staff Member

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    Exactly and many margin calls may also be inline.

    Also the Friday effect would add more to it.
     
  8. sachinmore08

    sachinmore08 New Member

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    Now with 51% FDI in retail and 49% in Aviation would fuel the market and could see more upside mainly with Retail and Aviation stocks.

    Shabbir - You have any recommendation for good Retail stocks ?
     
  9. shabbir

    shabbir Administrator Staff Member

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    No recommendations because I prefer charts recommending me stocks and it is not the news. Yes those are good news but for which stocks, chart and market will tell us for sure.
     
  10. sachinmore08

    sachinmore08 New Member

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    Thanks Shabbir for reminding that. I will monitor the market on Monday and take call per charts breakouts.