Market Comments - Bulls in Control

SEBI has finally decided on the P-Notes issue. There are not major changes from the original draft which was announced two weeks ago. Markets should set this P-Note issue aside and now only the interest rates are of interest to market. It will be interesting to see the opening moves today as there could be lot of volatility on the P-Note front.

There is lot of specualtion in US that FED will cut interest rate and even RBI could cut CRR. However even if these events do not happen, markets should now move to destination 20K. Though the valuations appear stretched, bulls are not allowing bears to strike back and henc they are controlling the market.

IFCI made smart move yesterday and those who bought it in Futures might have made good money. NTPC and PTC should perform well due to REL IPO and my targets for November are 325 in NTPC and PTC should reach 150. These will depend on market conditions and other cues which keep changing but I am sticking my neck out and giving the targets. IDBI should touch 175 by November End.

IFCI will keep moving between 75 to 100 and so keep playing in this counter till it crosses 100 decisively. This will happen after some news on bidding is known.

GMR Infra is stagnant for quiet some days but please be patient in this for next few months and you will be rewarded for your patience. It is a great stock worth holding for atleast next 3 to 4 years. It will give you amazing returns.

Market valuations are bit stretched and we may see some meltdown in future but when will this happen...DO NOT worry about this....I will guide you... "Main Hoon Na....."