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pankaj wrote ...
However , one should not
forget that currently SENSEX is above DOW. Last time it happened, market turned
nurvous and FIIs turned huge sellers and sensex came down with a thump.Cautious approach to market is always advisable. Strick discipline and stop losses in place should enable one to walk to banks with jingles in pocket quite frequently

This is what I said on 8th september.. As anticipated market turned direction and fell huge 368 points on sensesx. The Sensex closed at 11,550.69 on 11 sept.2006 The Nifty lost 105 points to close at 3366. Clearly market has turned nurveous at these levels and unless there is sustained liquidity to absorb all the profitbooking that comes in at this level, market would turn negative. Its not the fall that worries the market participants but its volatality and the extent to which it could fall in one single days. People who play with narrow stoplosses get squeezed out with huge losses to cater to. The extent of volatality not only affects thoss who want to go long short thinking that market would move up but also them who wants to go short.Long and short of this is that marginal players get booted out of the market in such volatality.

Now , the main question will be whether market will get up and move up or go down. The answer to this question can also be clued from the activities of various market influenceing factors.

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