morning thoughts...
Well the astrological change mentioned showed its effects and the markets tolled on back of weak global cues along with the astrological pressure.
Technically the market still looks in a range with negative pressure with occasional intermediate bounces.
We have cautioned investors time and again about mis-selling in the financial industry. Be it banks, insurance, brokerages or mutual funds; unethical practices have infected all areas of finance.
The same story is sadly true for the mutual fund industry as well. Until not so long ago, mutual funds were allowed to deduct a percentage of your investment; (called an 'entry load') to pay upfront commissions to agents. This led to wide spread mis-selling in the last bull market. In the mad rush to garner assets, investors were sold risky funds (like thematic and sector funds) that were not suitable for their risk profile at all. We all know what happened as a result of this. When the bull market ended in 2008, these funds were the worst hit. Retail investors simply cashed out of these funds as the markets recovered. They wanted no more of the equity markets once they broke even on their investments.
SEBI had banned entry loads in August 2009. However, this did not end the menace of mis-selling. Ever since the ban came into effect, MFs have paid agents upfront commissions from their own pockets. This was not seen to be much of a problem while the markets remained subdued. However, with the markets scaling record highs, mis-selling has returned in a big way. Consider this question: Do you believe that your relationship manager at your bank will have your best interests at heart, if he gets 6.5-7% commission to sell you the latest closed-ended mutual fund? Well, this is exactly what banks are getting right now. We won't be surprised if you have already been approached by your RM to invest in such a fund.
Thus, it is heartening to note that things might be about to finally change for the better. The Association of Mutual Funds of India (AMFI) has proposed that asset management companies should scrap upfront commissions. If this is implemented, it would be a hugely positive step for investors. Under this system, agents will be paid over the period of time that an investor chooses to remain invested. This will force agents to sell equity MFs as long-term investments. This is exactly how they should be sold.
Coming to the commodity markets bullions still looks strong and the strategy remains to buy on dips.
Base metals and energy will continue to witness selling pressure and is viable as sell on rise.
Mercury changes position and shifts to libra with uranus in 6th house of aries with change of uranus , jupiter and mars in saggitarius and solar eclipse on 23 october (invisible in india)- effects on equity , commodity markets and individual horoscopes
Huge oppurtunity for traders and investors to create mega wealth
www.astroeyes.blogspot.in
Yesterday's calls sent
Gold Mcx - buy at cmp 27390 sl 27345 targets 27550 - booked at 27535
Copper Mcx - buy at cmp 410 sl 408 targets 415 - hit sl
Crude Mcx - sell at cmp 5076 sl 5095 targets 5000 - booked at 5005
Nifty - sell at cmp 7905 sl 7935 targets 7800 - went 7757
Bank nifty - sell at cmp 15835 sl 15900 targets 15550 - went 15500
Ranbaxy - buy at cmp 601 sl 595 targets 620 - hit sl
Double bumper Dlf 110 ca - buy at cmp 6 sl 4.50 targets 11 - went 12
Jackpot Option M&M 1200 pa - buy at cmp 11 sl 8 targets 20 - went 23.90
Petronet lng - buy at cmp 180 sl 178 targets 185 - went 186.90
Tata steel - buy at cmp 355 sl 352 targets 362 - hit sl
Coal india - sell at cmp 347 sl 350 targets 340 - hit sl
Mcloed Russel - sell at cmp 263 sl 266 targets 255 - went 241.25
Jackpot United Breweries - sell at cmp 703 sl 720 targets 630 - went 615.65
Fii Titan - sell at cmp 385 sl 392 targets 370 - went 365.20
Well the astrological change mentioned showed its effects and the markets tolled on back of weak global cues along with the astrological pressure.
Technically the market still looks in a range with negative pressure with occasional intermediate bounces.
We have cautioned investors time and again about mis-selling in the financial industry. Be it banks, insurance, brokerages or mutual funds; unethical practices have infected all areas of finance.
The same story is sadly true for the mutual fund industry as well. Until not so long ago, mutual funds were allowed to deduct a percentage of your investment; (called an 'entry load') to pay upfront commissions to agents. This led to wide spread mis-selling in the last bull market. In the mad rush to garner assets, investors were sold risky funds (like thematic and sector funds) that were not suitable for their risk profile at all. We all know what happened as a result of this. When the bull market ended in 2008, these funds were the worst hit. Retail investors simply cashed out of these funds as the markets recovered. They wanted no more of the equity markets once they broke even on their investments.
SEBI had banned entry loads in August 2009. However, this did not end the menace of mis-selling. Ever since the ban came into effect, MFs have paid agents upfront commissions from their own pockets. This was not seen to be much of a problem while the markets remained subdued. However, with the markets scaling record highs, mis-selling has returned in a big way. Consider this question: Do you believe that your relationship manager at your bank will have your best interests at heart, if he gets 6.5-7% commission to sell you the latest closed-ended mutual fund? Well, this is exactly what banks are getting right now. We won't be surprised if you have already been approached by your RM to invest in such a fund.
Thus, it is heartening to note that things might be about to finally change for the better. The Association of Mutual Funds of India (AMFI) has proposed that asset management companies should scrap upfront commissions. If this is implemented, it would be a hugely positive step for investors. Under this system, agents will be paid over the period of time that an investor chooses to remain invested. This will force agents to sell equity MFs as long-term investments. This is exactly how they should be sold.
Coming to the commodity markets bullions still looks strong and the strategy remains to buy on dips.
Base metals and energy will continue to witness selling pressure and is viable as sell on rise.
Mercury changes position and shifts to libra with uranus in 6th house of aries with change of uranus , jupiter and mars in saggitarius and solar eclipse on 23 october (invisible in india)- effects on equity , commodity markets and individual horoscopes
Mega deception and surprise ahead
Nifty 7200 or 8500...? - trickling effects on equity , commodity marketsHuge oppurtunity for traders and investors to create mega wealth
www.astroeyes.blogspot.in
Yesterday's calls sent
Gold Mcx - buy at cmp 27390 sl 27345 targets 27550 - booked at 27535
Copper Mcx - buy at cmp 410 sl 408 targets 415 - hit sl
Crude Mcx - sell at cmp 5076 sl 5095 targets 5000 - booked at 5005
Nifty - sell at cmp 7905 sl 7935 targets 7800 - went 7757
Bank nifty - sell at cmp 15835 sl 15900 targets 15550 - went 15500
Ranbaxy - buy at cmp 601 sl 595 targets 620 - hit sl
Double bumper Dlf 110 ca - buy at cmp 6 sl 4.50 targets 11 - went 12
Jackpot Option M&M 1200 pa - buy at cmp 11 sl 8 targets 20 - went 23.90
Petronet lng - buy at cmp 180 sl 178 targets 185 - went 186.90
Tata steel - buy at cmp 355 sl 352 targets 362 - hit sl
Coal india - sell at cmp 347 sl 350 targets 340 - hit sl
Mcloed Russel - sell at cmp 263 sl 266 targets 255 - went 241.25
Jackpot United Breweries - sell at cmp 703 sl 720 targets 630 - went 615.65
Fii Titan - sell at cmp 385 sl 392 targets 370 - went 365.20
