Whatever he would have said, but a fundamental analyst knew that the costs are too expensive!!
I don't understand why there is a feud between Techincal Anlaysts and Fundamental Analysts on this board.
As said by Someone on this board(forgot the person's name) that HISTORY REPEATS ITSELF.... WOAH... Ok then please rpedict where we are today in History's patterns and what will happen tomorrow?
There are external factors which affect stock market. history may repeat once or twice but it has to be taken as COINCIDENCE.
Today any fundamental analyst would say that costs of Stocks are cheap if not cheapest that one may get. Stocks with very huge prospects are being traded for nuts?? And if one still wants to wait for 10k Please do. I'm not saying that it will/will not come. But being a fundamentalist, I know that I'm buying it cheap so there is no chance that I would lose in MT LT. ST never thinks of Fundamental Values. Its more of Behavioral Finance,sentiments etc.
Well, In India, being a secular country, people have a right to voice their concerns. It doesn't say you have to listen and implement it. Few very good scrips in PSU Banking Sector are being traded below BookValue i.e. even if they shut down their business they would get more money than what market has valued it. Few are reaching their EPS/year. Most of them are now at 5% p.a. dividend yield.
Its said that market might not correct its mistake in ST and MT but in LT it understands the value.
In Technical Analysis their are patterns like Head and Shoulders etc etc. Whenever their is an exception in such theories they term it as "Bear Trap". Nothing against Technical Analysis, but these are guys who try to PREDICT bottom or Tops. If these guys knew everything they wouldn't have shared their knowledge publicly on TV, rather they would haveearned million/billions at home.
Have you ever seen "Warren Buffet" advocating a Scrip? As evidences say,Techinical analysis may be good to find a max of half a percent move which is not much feasible considering the Taxes,Brokerages we pay.
You drive your luck with Technical Analysis.
Regards
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