Market opened up smartly yesterday but due to heavy positions that were built in F & O, bulls had to give up the gains and there was a huge rush to square off the positions which led to market ending up in red. However it will now be Bulls turn and we will see a big rally once again.
Infosys moved up 5% in Nasdaq yesterday which means we will see some rally here. It seems that there are lot of shorts built in Infosys and if this happens, today we will see some huge covering and we can see Infy rally smartly.
There were queries regarding Burnpur Cement IPO and based on current grey market premium which is quoting around 8 to 10 Rs, the IPO looks attractive. The issue size is also good and so one may get good allotment in Retail part. If you have enough money to put in IPO, then apply for this IPO. Minimum allotment will be 500 shares which means profit of around 5000 Rs on listing.
Today IDBI, IDFC, GMR Infra, NTPC should rise smartly in Futures due to short covering.
Thursday, November 29, 2007
Market Comments - Bears Trapped
Subscribe to:
Post Comments (Atom)
3 comments:
Your RPL call. One word. Brilliant. I took your several hints and bought at 192 193 198 and put a significant amount of my holdings. Brilliant, man. What timing. High of 224 today.
Srikanth, based on your words, i just keep holding the stock of RPL, which i bought at 205. Will it still move up? Please advice.
MK
Hi,
RPL is a good stock to hold for long term and short term movements will be difficult to predict. However based on current Situation, I feel RPL will move to 250 before consolidating.
Thanks,
Srikanth
Post a Comment