Nifty Short term Outlook:---
We Expect Nifty to touch 2370 after breaking 2670, & 2550. Trader should not make portfolio based buying until close above 2870 & 2950. Nifty made low of ''2659'' on March 2. Nifty Volatility is also Increases it good sign for bear market. We told u short Tisco yesterday it lost by -9%. Compare our pridicted & NSE Chart. Be Cautious Dow below 7,000
India VIX for 02/03/2009
Tata Steel Our Pridicted Chart for 02/03/2009
Outlook for 3'rd March 2009:-Tata Steel will open in negative zone as asian & global market look weak (Posted on sunday). Nifty March future discount increased to 37 points. After weak opening Tata Steel will reacover itself in late trading may be at noon. It has strong support around 153-151. It trader had short Tata Steel around 168 level , Getting around Tata 15 Ruppee profit. We are cutting our short position not to become buyer but to short Tata Steel again around 170 level. So Keep Shorting.... Today Tata Steel may close with Blue Sign (Positive Zone). Trader should cover its short position at noon. There is massive negativity, complete gloom and doom and havy oversold market, noon covering may be shorter...
Tata Steel ADVANCE SCIENTIFIC Chart 3'rd March 2009 :-
(We are expecting this to happen 2'nd March 2009 during the Market Trading Hours)
Dow below 7,000Blue-chip measure drops to levels not seen since 1997 as AIG reports biggest quarterly loss in corporate history, government revamps rescue.
NEW YORK -- Stocks tumbled Monday, with the Dow and S&P 500 falling to 12-year lows after insurance company American International Group's huge quarterly loss added to worries about the financial sector and the economy.The Dow Jones industrial average (INDU) lost almost 300 points, or 4.2% to end at 6763.29, its lowest point since April 25, 1997. The S&P 500 (SPX) index lost 34 points, or 4.7%, ending at 700.82, its lowest close since Oct. 28, 1996. The Nasdaq composite (COMP) lost 55 points, or 4% to end at 1322.85. The tech-fueled Nasdaq has held up better than the other major averages this year and remains above its close of 1316.12 from Nov. 20, 2008.
AIG: AIG reported a $62 billion fourth-quarter loss, the largest in U.S. corporate history, on turmoil in the credit markets and massive restructuring costs. For the full year, AIG lost $99 billion after reporting a profit of $9.3 billion in 2007. To keep the company from collapsing and infecting the broader financial market, the government is revising its bailout for the third time and committing another $30 billion in exchange for cumulative preferred stock. The rescue plan now totals $162.5 billion. Stocks tumbled Friday after the government said it will control as much as 36% of Citigroup's common stock
Stock movers: AIG dragged on other financial stocks, including Bank of America (BAC, Fortune 500), Wells Fargo (WFC, Fortune 500), Morgan Stanley (MS, Fortune 500), Goldman Sachs (GS, Fortune 500) and JPMorgan Chase (JPM, Fortune 500). The KBW Bank (BKX) sector index lost 6.4%.General Electric (GE, Fortune 500) slumped another 11% after saying Friday it is cutting its dividend by 68% to 10 cents per share from 31 cents. All 30 Dow stocks fell, led by the banks, GE, GM (GM, Fortune 500), Alcoa (AA, Fortune 500), Caterpillar (CAT, Fortune 500) and DuPont Market breadth was negative. On the New York Stock Exchange, losers beat winners by nearly 16 to one on volume of 1.98 billion shares. On the Nasdaq, decliners topped advancers by over 7 to one on volume of 2.36 billion shares.
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