Though I am more known in the Film and Television Industry, the Stock Market is a place where I keep my eyes on a regular basis, and is of one more of my favorite arenas. 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 life long 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 since the year 2000 and based on my readings of the charts i had predicted and mentioned about an impending Market Correction 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.
Group CEO, MD
Ascent Group Of Companies