Sensex Technical View :
Sensex is nearing crucial levels of 15300 below which 14100-14700 is the most important support for long term. As being repeated in past few weeks 15300 -14700-14100 are levels to watch for , continue to look to take staggered investments near those levels.
I believe many of the readers would have generated cash/exit at 17500/16800/16100 as was continously suggested and now are in a position to get good quality stocks at decent levels and have the patience to accumulate slowly rather then rush in. Investors can now look to do partial buying as suggested 30 % near 15300 and next at 14100-14700 zones and rest hold for opportunities in particular stock falls or after a few weeks/months if we see a turnaround which if possible would be covered. Traders can still remain on low volumes even if they r short or long as volatility will be high with bounces and gap downs .
Traders who bought at higher levels and became so called long term investors and have done no cash generation will now have to turn actual long term investors who would be ready to put in much more then initial capital in panics / dips and investment opportunities . Coz expecting a stock fallen from 100 to 50 and then coming back to 100 implies the stock doubling !!! frm current levels which is more to difficult then loosing 50 % value .
Many of the large cap stocks look attractive and one can create a diversified portfolio with more focus on value buying and conserving cash . As a good line one can SAY CASH IS ALSO AN INVESTMENT POSITION !!! .......... bcoz investors are generally not comfortable keeping cash in their portfolio , demats can remain unchanged for months but cash levels dont change soon !!
There are many stocks which look attractive in large caps , mid caps but only with a long term view and will soon come out with a list in this week as expecting things to settle down by June 2nd week or roundabouts on terms of fibo dates. Lil late n tired tonit but will update more on particular stock picks with fundamental reasons for long term in coming days as technically there are no indications of a bottom or trend reversal formation yet but we are nearing supports and stock specific supports might be little more deeper.
TECHNICAL ANALYSIS SESSION :
MUMBAI JUNE 14-15
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