Market Comments- Consolidation Time

Markets will be in consolidation mode and also Volatile for couple of more days. Bulls will take charge once we see some global stability. However as I have been mentioning in this column frequently focus on specific stocks to reap rich rewards. Reliance Capital moved up smartly and from my recommended levles one could have gained 25% plus in this.

Focus on specific stocks and forget the sensex for now. Power Grid IPO closes today and I expect it to be oversubscribed by around 25 times though it is difficult to guess the figure. Retail part was subscribed 1 time till yesterday evening but I believe it should get good subscription and it should be around 20 times though this can change drastically.

"Destination 16k is intact"