Welcome To "Halal Street"

Bears went on a hunting spree for Bulls at "Halal Street".
We witnessed the biggest fall in Indian Market history.Market corrected 18% from its 52 week high. Sensex closed at 17,605.35 down 1408.35 points from previous days closing.Nifty lost 496.50 points or 8.70% to close at 5208.80.
FII outflow in January 2008 totaled Rs 2761.90 crore ( Till 18/01/08 ).
Top losers included: RIL, REL, RPL , BAJAJ AUTO, DLF, TATA STEEL, ONGC, TATA POWER to name some.
Sensex trading was Halted twice in yesterdays session after hitting 10% circuit filter. But resumed soon after the problem was resolved.
From last few days we were recommending our clients to exit all Small-Mid cap stocks which are in lime light without any strong fundamentals. And same thing happened, almost all small cap / mid cap stocks have discounted by 40%-50% since our exit recommendations. Last week I cautioned every one by saying that graphs are not good.... and now market is almost 20% down from highs.
But, now the biggest question: What Now?
Well now the best way is to wait and watch. Stay away from market for next 2 trading sessions, let market settle down & then we will let you know our best policy to ride this market. Those who all followed my advice and exited positions, may invest 40% here. Technically, market in over-sold zone. This fall was un-accepted & un-expected. We may witness a strong bounce back from lower zone.
At the end , I would like to say, this is not the end, there is Sun-Rise after every Sun-Set.

From:
Gundeep Singh
9415784463