300 rupees is the Waterloo station where the EXPO Bull and Bear will meet to see who wins today and if calm returns to CSE.
Yesterday the market took a beating with the ASPI down 338 points (2.62%) and the more liquid S&P SL 20 down 123.26 (2.84%) .
The market was trading rather nervously down around 100 points till around mid afternoon where the heavily traded stocks were looking for direction amidst the Soft Logic group front runners – who were seeing fairly broad swings up and down – and the market seemed very nervous and then broke down below ASPI 2700 during the last hour.
This is where Expo broke the Rs 330 barrier and dropped to Rs 300 quickly before recovering to close around RS 309 becoming the top volume contributor of 2.3 billion and 7 million shares changing hands.
The EXPO drop looked a little artificial and manipulated with the heavy SM campaigns that has been circulating with the very obvious intentions of triggering a sell off amongst the nervous shareholders who are holding it at low cost and the overstretched who are compelled to sell and cut possible losses.
The seasoned investors are now waiting to collect the more than 25% discounted prices prices now prevailing on the top 3 trading shares in BIL, LOLC , & EXPO and many other counters in Tile Cable and Plantations sector that will breakout once the extraordinary results are announced and the market absorbs it and continue the uptrend that is still the dominant force in market with all the inflationary and exchange issues around in the economy .
Stay calm and grab the opportunity of bargains and look beyond short term trends to win in this Bull market.
