As mentioned in 23rd Jul 2008 Daily Commentry that above 14700 can be a trap and trigger for the fall can come from US Markets i.e. DOW starting to fall, the same has happened and sensex after making high of 15130 has closed at 14275 on 25th Jul 2008.
Our markets continue to be in total sink with Global clues specifically coming from movements in DOW. There are certain individual stocks in sectors like Banking, Power and Oil and Gas which are showing that a bottom is in place and seems to be attractive buy at these levels.
It is very important to understand the direction of the market before making a trading or investment call and my View on Market is that it has not yet confirmed that it is out of bear grip. Wait and watch the direction of the market as individual stocks tend to move with the market, if the market falls than 90% stocks start to fall and when market moves up then 70% stocks start moving up. The fear of negative clues from US markets still continues and further more downside on US markets is very much possible which can take our markets further down.
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