Please, do not blame the coach, players or the captain. It is the system that is producing these players have to be blamed. If we need to sack coach, captain and/or few players, why not the cricket administrators and selectors? Is your domestic cricket designed to produce tough players? Was there any tough situations players handle in Indian domestic system? Are the domestic players have the safety of having cricket as a career in spite of BCCI having so much money? In the Ranji Trophy 2007 season, more than 60% matches have ended in tame draw with First innings scores deciding the outcome. Big scores by batsmen on Indian Flat pitches, hitting the balls to boundaries, hog the limelight. But never some one who accumulates runs with the help of singles and twos. When we change pitches and domestic matches, we bound to get nurtured players, until then we will be relying on the born talent who will choke more than once in these kind of situations.
We have already suffered in Hockey. And the situation is so pathetic that we are not even top four in Asia in Hockey. And if this continues in cricket, it is only a matter of time.
Saturday, March 24, 2007
Friday, March 23, 2007
Closing Review - Mar/23
As expected, a rest day for bulls. They have been running very hard in this 4X1 day race, passing the baton from one stock to another and they were desperate to take rest and charge their batteries over the weekend. Sensex initially rose to 13343 and profit booking of 150 points brought it to the lowest of the day 13196. After this point we were playing the see-saw game and finally settled for the day at 13285.
As the expected profit booking was over, Nifty hit our target of 3900 in the afternoon. Sensex maintains our target of 13554 for the coming days before any kind of serious correction taking place.
As the expected profit booking was over, Nifty hit our target of 3900 in the afternoon. Sensex maintains our target of 13554 for the coming days before any kind of serious correction taking place.
Pre-Open, Mar/23
If it was easier to write pre-open for yesterday, it is a very difficult one from here on. For healthier, secular rally from here on towards the all time high is possible only when we have intermittent corrections from time to time. We have had a fantastic rally of 999 sensex points in last four days. There will be little worries even if we correct 100-150 sensex points from here on. But, if we rise faster, then volatility will play the killer role.
At least for some more time, it is safe to buy on dips with a target of 13554 on sensex. With inflation numbers due for the day at noon, expect a slow and sideways movements. On worst case, normal profit booking should be limited to 13100 levels.
As far as Nifty futures are concerned, FIIs bought a huge 2146 Crores in F&O market. And they were net buyers in cash market as well. The comfortable put writing that taking place at 3800 & 3900 levels , and improving Put-Call Ratio suggests that a target 3900+ is achievable in coming days.
At least for some more time, it is safe to buy on dips with a target of 13554 on sensex. With inflation numbers due for the day at noon, expect a slow and sideways movements. On worst case, normal profit booking should be limited to 13100 levels.
As far as Nifty futures are concerned, FIIs bought a huge 2146 Crores in F&O market. And they were net buyers in cash market as well. The comfortable put writing that taking place at 3800 & 3900 levels , and improving Put-Call Ratio suggests that a target 3900+ is achievable in coming days.
Thursday, March 22, 2007
Closing Review - Mar/22
A gap up opening, and the gap sustains through out the day without any glitches. Bearish Signal Reversed is one the most reliable and strongest bullish pattern found in P&F charts. That has proved too strong for bears, and they were running to cover their shorts for the whole day. In the opening review, without considering any other levels, I have quoted 13300-13400 to be the resistance for the rally and we are right there on the close.
Nifty futures have closed the Gap that had formed on the budget day. And we have had 4 days of rally. From 3542 low on Friday, we have reached 3880+ levels by today. Will there be profit booking tomrrow? Wait till tomorrow's opening review.
Nifty futures have closed the Gap that had formed on the budget day. And we have had 4 days of rally. From 3542 low on Friday, we have reached 3880+ levels by today. Will there be profit booking tomrrow? Wait till tomorrow's opening review.
Pre-Open, Mar/22
Today is my easiest day to write about what markets will do next. I don't know, how many of the regular readers of my blog in the past would continue to read today and from here on to know what I am writing. I don't need to scratch my head like what I was doing over the week end, what would change the sentiment in the street. (Otherwise I would not have got those 8 points for Monday's pre-open). All of a sudden, this market has now changed from "no buyers" to "no sellers" market.
On Tuesday, Mar 20, pre-open, I wrote " And above 12900, we get the Bearish signal reversed pattern in P&F charts". I checked my P&F chart site just now. Yes, that has happened. Their target is 14200 now. Please visit the link given below: http://stockcharts.com/def/servlet/SC.pnf?c=%24BSE,P
Should I really quote what world markets are doing as of now? Shanghai composite has just made the new all time high. Dow & Nasdaq 100, has rallied past the previous high levels and thus confirmed the uptrend there. No surprise when Dow crossed 12351, it went higher. Kospi was already hovering around previous highs for last two days. It is trading above this as of now. Strait Times has rallied past the previous high.
Well, I didn't quote what FOMC chairman Ben Bernanke said about inflation and US economy. A true Technical Analyst will say everything is built in the price.
Well, finally, if you are reading for the next resistance level for the market, it is going to be 13300-13400, the falling Gap that was created on the Budget day.
And I think this is enough for the day. Happy Trading!
On Tuesday, Mar 20, pre-open, I wrote " And above 12900, we get the Bearish signal reversed pattern in P&F charts". I checked my P&F chart site just now. Yes, that has happened. Their target is 14200 now. Please visit the link given below: http://stockcharts.com/def/servlet/SC.pnf?c=%24BSE,P
Should I really quote what world markets are doing as of now? Shanghai composite has just made the new all time high. Dow & Nasdaq 100, has rallied past the previous high levels and thus confirmed the uptrend there. No surprise when Dow crossed 12351, it went higher. Kospi was already hovering around previous highs for last two days. It is trading above this as of now. Strait Times has rallied past the previous high.
Well, I didn't quote what FOMC chairman Ben Bernanke said about inflation and US economy. A true Technical Analyst will say everything is built in the price.
Well, finally, if you are reading for the next resistance level for the market, it is going to be 13300-13400, the falling Gap that was created on the Budget day.
And I think this is enough for the day. Happy Trading!
Wednesday, March 21, 2007
Closing Review - Mar/21
On the pre-open on Monday, March 19, I was putting forth 8 points why should our markets rebound from lower levels and why they will not seek any lower levels than this. And today, the high was made in style. Even I was cautious, while I was writing my pre-open for today. And I think that is just enough for markets. Again markets have proved that when there is fear and skepticism around, they go up secularly.
Markets opened around 12735 and went down immediately to 12664, caused by the fear of yesterday's close. And by 10.30pm sensex recovered to 12770 and never looked back. A strong consolidation till 1 pm and broke out on the upper side trapping all the bears. Sensex hit a high of 12964.
On Monday, Mar 19 , I wrote about the Tea sector stocks being in the upper circuit. They continued to rally for one more day. And today, they have fizzled out. It is the turn of Bank stocks today. Almost all the banks, private to public and smaller - bigger rallied. Sector rotation game is definitely on. If you are a stock F&O trader, don't chase those stocks after they have rallied.
Markets opened around 12735 and went down immediately to 12664, caused by the fear of yesterday's close. And by 10.30pm sensex recovered to 12770 and never looked back. A strong consolidation till 1 pm and broke out on the upper side trapping all the bears. Sensex hit a high of 12964.
On Monday, Mar 19 , I wrote about the Tea sector stocks being in the upper circuit. They continued to rally for one more day. And today, they have fizzled out. It is the turn of Bank stocks today. Almost all the banks, private to public and smaller - bigger rallied. Sector rotation game is definitely on. If you are a stock F&O trader, don't chase those stocks after they have rallied.
Pre-Open, Mar/21
The way we have ended yesterday, one would easily be expecting the weakness to continue in the Dalal Street. But, now a days, global markets are determining how we open each day. Looking at this, we can expect a +ve, modest opening and from there on lackluster trading activity. Since Fed Meeting to decide on US rates gets over tonight, we may not act quickly towards bullish or bearish until that is put to rest.
FIIs have been buyers of ~145 Cr in cash market yesterday and ~550 Cr in F&O.
Sensex is likely to open around 12750 and may try to cross 12820-12835 region. On failure to do so, it is likely to go back to test at the maximum 12550 as per my view. Nifty futures might oscillate between 3660 to 3715. Avoid any big ticket new position creation in the market until tomorrow. Rollovers are also adding some volatility to the market.
FIIs have been buyers of ~145 Cr in cash market yesterday and ~550 Cr in F&O.
Sensex is likely to open around 12750 and may try to cross 12820-12835 region. On failure to do so, it is likely to go back to test at the maximum 12550 as per my view. Nifty futures might oscillate between 3660 to 3715. Avoid any big ticket new position creation in the market until tomorrow. Rollovers are also adding some volatility to the market.
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