The week that went by on the markets did not surprise me.

I have been under the belief that the subsequent run-up of the markets from 16K to 20K was unwarranted. If it was Reliance and its pack of shares that took the markets to such dizzy heights, it was the tech pack that made a muted response to the strengthening rupee ( and weakening dollar)..

Nasdaq ended lowere by 2.5% on friday ..the effects of which would be felt in the indian market on monday. The charts of the IT pack bode a sorry picture..Most of the leaders in the tech pack are precariously perched at their support levels..

Next weeks retailers numbers on the Walls street may not turn out to be smooth which would mean further slide for the markets. The IT pack looks the most vulnerable in case of further bad news from the US markets of an economic recession.

Have a look at the charts for the IT pack and you will understand why. I track only a few IT stocks in the indian markets

Infy: Looks set to touch 1630 in the near term..where bargain hunters may look at buying in small lots.

TCS :

Dependable of the lot.But,if its a problem in the US, 60% of reveneues for TCS comes from the US and hence, it should also feel the pinch..Possible support at 930 levels

Geometric :

This is a stock which i went bust the moment i bought it. I am already deep red @ -7% at Diwali closing.But, this scrip has low PE compared to its peers in the IT pack..One can see a Head and Shoulder pattern at its peek..The fall from its support at 85 has not yet been arrested..So, dont go for it yet..

People should learn to love animals...


They are so tasty...