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Articles: Stock Market | Stock Market Summary
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Market opened at par and bulls run the show through out the day. Market under full control of bulls. Some stocks has shown excellent run i.e Nalco,TVS motors &Ranbaxy 6% up, M&M,IFCI,Auro pharma,Chochin ref ,Polaris,Moser baer,IDBI &Dr.Reddy up by 5%,Hero Honda,Cipla,BHEL,ABB,Tisco&VSNL up by 4-4.5%. Sectors like IT, textiles and pharma went up smartly due to falling rupee.Rupee trading around 1 yr low against Dollar.
The market breadth was positive, 1907 advances VS 525 declines, and 49 shares unchanged in BSE.
FIIs buying worth a net Rs 384 cr on 2 November 2005.
Market analysis: We are continuously asking to buy in dips and sell in rallies. Market started falling from 8821 & supported at 7656.Total fall counts as 1165 points. 50 % Retracement of the current fall will be 8238 & 61.8% Retracement of the current fall will be 8375.Traders or investors watch the above levels closely . By chance if the market sustains above 8238 and closed higher,one must be careful between 8350-8400.
Day traders Strategy : Buy in dips and sell in rallies continues.
Investors strategy :Market has taken very good correction with in short span. One can start buying for long term as well as medium term. Buy fundamentally good stocks.
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