Today was one of the trading days on which u would wish to be not in midcap stocks

Midcap stocks took a beating today and the CNX Midcap was itself down 1.6% & its most popular stocks like Punjlloyd, RNRL, IvrclInfra & JSW steel down anywhere between 5-10%. This will become a routine if markets come down sharply, so to be on a safer side use trailing stoplosses as holding midcaps in your portfolio can bring down your portfolio's networth by 15-20% even if markets only correct by 5-10%

Stock markets may be eagerly awaiting the RBI credit policy that is to be announced tomorrow around 12 pm, so watch out for any " HIKE " word used by CNBC anchors or market's reaction would be self sufficient. Even if there is a no change policy which is expected from RBI, then markets have to deal with weak global cues too. So in all tomorrow could be a highly volatile day so intra day traders should keep a note of it and trade safely.

Nifty View:

NIfty view remains the same as yesterday, still to break the obvious support of 4920-4950. 4961 was the level from which Nifty bounced back and went up 70-80 points but could not hold on to the gains and eventually rally fizzled out


Dow Jones as i post at 01:00 is down 100 points and there is still half an hour for U.S markets to close. After making a high of 10072 it is down couple of hundred points from the top i.e after opening 100 points up it is 100 points down, technically it is a very weak signal. Now the major support for DowJones comes at 9800 (( kindly see chart ))


Stock view: Aban

A lot if people will be looking to buy this stock on declines as it has risen from 220 odd levels in March to 16oo odd something in September i.e a stupendous return of 800% in 6 months ( 1600% annual), so this stock is a favourite among traders and investors. It was down due to poor results so enter this stock slowly and slowly and invest at each support level.




Have a good trading day!

Regards

Ankit