Market Comments - Bulls in full Swing

Markets created another history recording highest rise in a single day. As I said yesterday that another 1000 points correction was expected but markets do not behave in the way we want. Market has its own style of moving. This was the precise reason I asked you to buy specific stocks rather than focussing on Sensex.

Teledata has got approval for demerger and even the record date for demerger is fixed. I believe teledata will race close to 100 before the demerger. 16th November is the Ex-date for this. All those who buy shares of Teledata upto 15th November will be eligible to get the shares of Teledata informatics Ltd carrying a face value of Rs.2 against its original face value and that of Teledata Marine Solutions Ltd and Teledata Technology Solutions Ltd.

IDBI has started its upmove again and is moving towards first target of 150. NTPC is moving up because of REL power IPO and we should see 25% gains in NTPC by the time REL power IPO is over.

IFCI will also see smart up move. Reliance Capital has moved in fast lane and so also RIL. RCOM should start moving up now. My target is 1000 Rs in next 15 days.

Markets may move up by another 400 to 500 points today. However the volatility will be such that we can see even a fall of 1000 points now on any given day. The coming days are going to be as such.

Maytas Infra is going to list tomorrow. I expect a listing price of around 500 in this scrip.