Monday Morning Market Musing - Patience is the key

US markets closed strongly on Friday and so the opening will be very strong in our markets also. We should touch 18K in the opening trade and then we may see some volatility again.

I am still of the view that you should refrain yourself from the market for atleast another week and enjoy the show. I will guide you on a daily basis and only after we get the required signals we will enter the market. However if you cannot refrain yourself from market, then you can trade on a day to day basis with momentum stocks like Reliance, Reliance capital, SBI, Infosys, GMR Infra, IFCI etc. However this is a very risky thing to do. Choice is yours.

Powergrid corp is an excellent scrip for long term. However its price has run up more than what the fundamentals warrant. Try to buy this scrip if it comes to around 80 levels. It should come to level when we see some correction.

IFCI has corrected as expected and there will be lot of volatility in this and the stock will keep moving up from 80 to 100 levels depending on market conditions and news flow in this counter.

"Patience is the key and so hold your nerves and enjoy the show"