Dear Members,
Here is a very small part of Friday's Indian daily letter:
On Thursday, the Indian market lost value as predicted. The Nifty lost almost 7% value, and the worst is not over; the worst is on the way ahead. So I don’t know what you're planning, but you must not buy any long positions in Indexes and stocks.
As predicted, from October onward, negative times will start for the Indian market, and the market can fall further by 10%, so be aware. Next week, the US market will release the earnings of top frontline tech stocks, determining whether global markets want to make further highs.
On Thursday, there was a positive astro for the market, but the Indian market traded negatively, which is not good news for investors. On the other hand, selective stocks are trading positively, keeping 50% longer in our favorite stocks and closing 50% long positions.
We have been predicting some uncertainty for India from the intentional front. Also, FIIs will withdraw record money from the Indian market in October and November, so keep this in mind.
On Friday, keep booking profit on the higher sides; your job is to keep cashing in and building big cash positions. Please don’t buy any positions in our favorite stocks, either, and wait for next week's report. I am still in Japan, but I will try to give you proper guidance. Our Indian members have created a great amount of wealth in the last fourteen years by following our Indian Daily letter, but don't forget to share your wealth with the needy or do charity and good for the community.
Three weeks back, we recommended shorting at 26178 with a target of 24378 and 23238 levels. Gold will outperform, so stay long in Gold etfs in India. Rupee is struggling, so watch Rupee closely.
This is what we mentioned yesterday: If Nifty closes negative again on Thursday, it may confirm that the Indian market started a correction territory and may struggle to move higher. Our view has not been very positive for the Indian market for the last month, and in the next three months, I won’t put any new money in the Indian market, and I will recommend it to our members.
My advice is to cash in stocks and reduce exposure in all sectors. Though FMCG stocks won’t be affected, keep holding positions in them. Stay long in hotels and hospitals and select our top picks.
From next week onward, India may experience some volatility, not only economically but also politically. Modi will face some challenges. I don’t know what kind of challenges, but a negative outlook will develop, so remain watchful.
I will be closely watching the market after 25 October, when some of the astro combinations in the Indian astro chart turn negative, so be aware. The outflow of funds is expected from India.
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Thanks & God Bless
Mahendra Sharma