My Investment Picks

As it has become a ritual for the market - the sell off at higher levels continued. On account of mixed global cues our markets opened falt and soon gained ground but after reaching near 4800 we witnessed sudden and immediate sell off. Banks , FMCG and realty stocks saw sell off while Oil and Gas , Capital Goods and some power stocks bucked the down trend but the last hour panic didnt spare any sector.

Now market will have to look for quarterly results and tomorow inflation foigure may give some direction to to this ruderless market. But its still early to say what direction market would take . We are not out of woods yet.

It is advisable not to trade in these conditions. Market will get stabilized after a time as the selling will get exhausted at some point but it may take a few months also.

Friday was an an important day on account of coming out of inflation figures and IIP. The inflation of 7.41 % is the highest we have seen for the past three year, and makets at first reacted on the down side but soon recoverd lost grounds after the anouncement of IIP figures which were higher than before and this helped markets to gain further and it closed on positive and after a long time we didnt see any panic selling at higher levels. Bank stocks remained subdued for the expecation of possiblity of CRR hike which would ttighten liqulidity and affects banks profitability.

Going forward market may break from the narrow range it has been trading for the past few days . If the breakout happens in up direction we may test water.

Till then have a nice weekend ahead and wishing you all best wishes for ' Navratras'.

After a speculator rise yesterday ,today we witnessed profit booking at higher levels.Nifty opened up firmly and was not able to cross the biggest psychological hurdle of 4950.IT stocks again rose on the second consecutive day but it was a mixed performance . While Infy and Wipro followed by mid cap IT stocks rallied , Satyam Computer was not able to maintain the high and slide off.Auto and FMCG were sluggish and in the last hour of trade profit booking was seen all across the sectors.As a result markets had almost a flat close .

Going forward, this being a truncated week. tomorrow we may see another round of profit booking .We may take some calls on defensive stocks from next week. Till then patient is virtue.

It was a good week as the market started off with positive note on account of good results shown by Infosys and this helped in fueling a rally in IT stocks with participation of select mid cap IT stocks. Lower inflation number's also helped in lifting the sentiments.Today buying interested was seen in Bank, Realty, IT, telecom and metal stocks.Fertilizers stocks also rallied on back of news of normal rainfall prediction. The volumes also picked up and market breadth was positive.

For Nifty, 200 day moving average is 5011. We need to see Nifty closing above 5000 consistently for a few days . If 5000 is breached decisively and is maintained we would start buying in select stocks.

Well, since the close of the market yesterday Meryl Lynch has reported losses of + 1 billion in Q-1 and the RBI has hiked the CRR by 0.5 bp.Sub prime story is not over and Soros estimates that the sub prime losses would touch $ 1 trllion.Simultaneously we have imported inflation and the best way to meet this is to let the rupee rise.
......Let ua watch the action on the NIKKEI and NASDAQ today.
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"Meryl Lynch has reported losses of + 1 billion in Q-1" is this counted with $1.5 billion sat aside for credit loss recovery if not then .......

hi
let me see the balance sheet to ascertain this.
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Buy Bank Of India CMP 334 SL 315 TGT 380

It was a flat day .Nifty had a sideways days with almost flat closing. Frontline IT stocks plunged on account of lower than expected results by TCS.Today interest rate sensitive sectors like Realty, Bank saw some buying .Metal, FMCG , Pharma and some select Power stocks closed positive.

The interesting thing is despite all the negative news of rising inflation, slowing down of growth Nifty was able to close above the important level of 5000.

The idea here is to trade the new range of 5000-5400, which may be established if Nifty is able to close above 5000 consistently.

Its still time to be cautious and don't over do anything.

It was again a consolidation day and Nifty was able to close above 5000 which is important level .The sector which witnessed selling pressure were banks, metal, capital goods and some power and oil stocks. Realty, Textile and some technology stocks were able to perform well.

The interesting thing is despite all the negative news of rising inflation, slowing down of growth Nifty was able to close above the important level of 5000.