Showing posts from October 5, 2012

NSE freak trade fiasco: Will it go scot-free again?

Given the opaque style of functioning and NSE being the favoured exchange of SEBI, the exchange will go scot-free once again. However, SEBI should seek clarification from NSE and also penalise both exchanges for not following its circular on index-wide filters The so-called high-tech systems of National Stock Exchange (NSE) failed today.  The exchange which boasts as technologically advanced was hit by a trading error. What I wonder most was not the error but the index which had to stop trading as 10% circuit filter went all the down to 4,888 which is 15.8% down (As per NSE’s own website the day’s low is 4888.2). If one reads the NSE's circular dated 28th September ( ), a 570 point (10%) should have triggered the circuit breaker . Once the circuit breaker is hit, the market (both NSE & BSE) have to be closed immediately for one hour. Extract from the circular is as follows: On September 28, 2012, t

Maruti Suzuki India

MARUTI (1390) - Posted on 17th Sep " Above 1250-1240 Upside target 1415-1430" as posted yesterday it almost attacked the mentioned upside target (made high 1410) Now resist 1415-1430 In case trade and stays above then ready for another big upmove 

Reliance Capital

RELCAPITAL (452) - Posted on 24th Sep . Upside target 442-458 as posted yesterday completed the mentioned upside target (made  high 462) Now what next ?  In case trade  above 462 going to top out 480-495

State Bank of India

SBIN (2345) - Posted on 24th Sep "Above 2240-2260 upside target 2335-2375" as posted yesterday it attacked the mentioned target (made high 2349). so now already mentioned resist of 2375  remain same But trade and stays above that next attack in upside 2466-2476

Sobha Developers

SOBHA (383) -  Already Posted On 08th Aug Itself. As posted yesterday only it traded and closed above the mentioned hurdle of 365-370 so now All mentioned upside targets and levels are intact.