Quick Bucks

Chains of habit are too light to be felt until they are too heavy to be broken.
Warren Buffett

Though the index afftects the stocks in broader term but as far as shorter swings are concerned, no matter where market moves, every stock has its own movement.  Like where Nifty is expected to have a gap-up opening tomorrow, EKC seems not to get free from beers' clutches. Have a look

well, I recommend to short EKC at opening at current level that could be covered at 95. So Rs. 5 in an hour an hour is not a bad deal. Its 5% man. Whewwwwwwwwwwww!

Is It The Bottomline

"A man who is at the top is a man who has the habit of getting to the bottom."

Joseph E. Rogers

Long live Beers, chants are on as procession of bad news causing the bourses' descent.Banking had been a stong sector since recession which led many short term rallies and a downward correction wasnt possible without a week banking. Thanks to housing scam, rather media which hyped the whole story. Panic is apparant and rampant selling is seen across all sectors.

Nify made intraday low of 5728 which is an important 61.8 fibo level. So will it take a halt or reversal.No, not yet. why? Hey, have a look at stoch and MACD, the difference between the two lines are still widening. So no respite for Nifty. Lets expect it to touch 76.4 level. Beears, its party time.

Bank Tumbles

I may be out tomorrow. Nifty is having a strong support at 5800 and its likely that it gonna hover between 5800 and 6000 for couple of days. We saw panic due to korean aggression followed by news of LIC housing finance. Banks which has been strong in last couple of months now surrendered to the panic wave.

On Thursday morning we can expect a futher fall. I would suggest to go short in Allahabad bank as soon as the market opens.

You may go short in Allahabad bank @ 250-246 level and can expect 240-235. Have a great time bear.

CEE YA