Though I am professionally into the Film and Television Industry, the Stock Market is a place where I keep my eyes on a regular basis, and is of more of a hobby than a career. The uncanny similarity between Films and the Stock Market is that both are high risk high gain/ loss endeavors and probably that’s why both are my favorites.
Anyways amidst the Global Financial Turmoil fueled by the state of the US Economy, Indian markets also are feeling the pinch and the BSE Sensex is finally at 10,000 levels.
Technical Analysis of the Stock Markets is something which i do out of interest and for the sheer fun of it and based on my readings of the charts i had predicted and mentioned about that in this site way back in June 2008 in my post
which has actually come true on 10th of October 2008 (Friday) when the BSE Sensex closed at 10,527 down 800 points from the last day’s close while the bubble (which is also mentioned in the June 2008 post) of Crude Oil prices have burst and come down to levels of $79 per barrel while the Indian Rupee is down to 48 Rupees to 1 US Dollar.
This probably once again proves what I feel, “The News follows the Markets and not the other way around” because the Market has a mind of its own which can be best tracked and analyzed through “Technical Analysis”.
I will try to write some more posts on the Capital Markets and Technical Analysis as soon as possible.