Fwd: Sensex as on 3rd Sep 2009

friends,

 

Venky has done my job today and he has sent to me . so i am just forwarding what he has sent. he has done excellent job.

thanks Venky.

 

---------- Forwarded message ----------
From: Venky <venky.investing@gmail.com>
Date: 2009/9/3
Subject: Sensex as on 3rd Sep 2009
To: Pankaj shah <pankaj564@gmail.com>

Dear Pankajbhai,

 

The attached chart is same as you have been sharing on the groups and your blog, updated with today's values. I feel there may be a bounce tomorrow to maintain upmove. Also Sensex seems to be moving in a small triangle in this range which may top out at 16,200 or thereabouts.

 

I can't say for sure the extent of the fall, but from the fundamental bad news that is flowing in, it will not be small i think. The extent of correction may be steep.

 

China in 2007 corrected 1.5 months before India like now, Also Baltic Index is falling now (have attached excel sheet here), in china the number of ships waiting at harbor has reduced drastically - this may give rise to a commodity correction as in 2008, CLSA road report on India says rurals situation here is deteriorating fast hitting the consumption and the GDP. Also in entire market I am seeing many brokerage houses coming out with buy report now and no sells and only few holds. Everyone is saying economy is on recovery path, but fundamentals are not supporting. Market is due for correction, only thing timing may be by next week or end of this month. Lets see market is king. Thanks

 

Venkat