Market Comments - Bulls Create History

As I had mentioned in my comments on Wednesday that we were close to bottom and Bulls were ready to take charge and even a small rally in US markets would make the markets rally in a big way here. US Markets closed up in a big way on Wednesday and so we had a record rally yesterday.

We will see some consolidation today and an attempt to move to 21K. It will be interesting to see how soon we can reach 21K. However it is not so easy to get to that mark. I hope bulls prove me wrong.

Reliance has moved up smartly and raring to go. There is news that Reliance may go for stock split after it crosses 3000 and ex stock split it may give value upto 4000.

Reliance Petro is unable to move due to the huge positions built in F & O and unless it comes out of the F & O curb or short covering takes place, it may not move. However I still believe it has potential to cross 300 by December End.

GMR Infra is also in F & O curb but as per sources there is some placement likely to happen at 250 Rs per share which means GMR can cross 250 very soon. More information will be known after 26th November on this.

Teledata is going to ex-demerger tomorrow and even conservative estimates suggest that the demerger value should be around 90 to 100 Rs for the three entities combined. The only thing required is patience in this counter.

Nagarajuna Fertilisers moved up smartly and it should now move towards 80 levels.

IDBI and SBI willl give good returns and still have lot of potential. Stay invested for one year to get returns in these.

Powerstocks have flared up considerably and still have some potential to go till REL IPO goes through.

ICICI Bank was another bank stock which I recommended and it has started moving up smartly.

My stock picks link.

http://indianstockmarketscomment.blogspot.com/2007/10/comments-on-current-stock-picks.html

I will add some more stock recos soon.