ICICI did come out with a decent set of numbers given the circumstances, and as soon as the Chanda Kochar comes on, the stock tanks.However, there was some sign of recovery and it held the 1000 mark.The SSLT stock was taken down despite the good set of numbers it came out with, and it would not surprise me to see the stock bouncing back in the coming days.It will head for the 217 levels.This stock will be the surprise of the year.And one stock which is not a surprise, is RELIANCE, short at the highest point of the month which could be in and around 890 -900 and then wait patiently for closing and you can square of near 830 to 820 level. This is like collecting a monthly salary from the company?
Bank nifty is still in reverse gear, and the star of the day was Maruti who did a TCS in recovery.Makes me wonder whether it takes people, over a day ,to understand the results and the first reaction when a result is declared is short it.This is exactly what Ichan said about Apple yesterday when he dumped half a billion into the stock.They do not understand results or read it wrongly.
Well, the poor retailer is at the mercy of the market makers, who have their own agenda, especially at the month end.I would not be surprised if the market moves over 50 to 80 points either way tomorrow.The oi and options will give an insight and who did what as regard to buying and selling.This will give us an indications as to where the Index will head tomorrow.
The rupee has pared its earlier gains and the brokers are looking at 63 levels once again. Is this because they are preparing for the FED announcement?, which is a forgone conclusion, or the feds view on interest rates,which could be increased any time soon.
The cat is still dead and may be it will bounce tomorrow.Whether it is for the good or worse we need to wait and see .Or is 6220 the figure the market makers or in colloquial term the operators have set for closing tomorrow if so, then the cat should bounce.