Market Comments - FED cuts to boost Markets

FED has cut interest rates in US and this will boost our markets today. We may now see 21k at the current frenzied pace as at present all fundamentals are being set aside and markets are moving up like anything. Interest rate cut in US would further boost inflows here which means we will see further up move for market.

Religare IPO is good but since the issue size is small it will get oversubcribed heavily. Apply for this IPO only if you are sitting on huge cash as the allotment chances will be very less. It was oversubscribed 13 times in retail part yesterday and so on last day it should get oversubscribed nearly around 80 times or more.

Barak Valley Cement is also small issue and allotment chances will be less as this should also be subscribed around 25 times. Invest only if you are sitting on huge cash or you would like to take a chance with allotment.

We should see rally in stocks now like Reliance ind, Reliance Capital, Reliance Energy, RNRL, SBI, IDBI, IFCI, GMR Infra, DLF, Unitech and all my recommended stocks but we are in a situation of musical chairs and the music is now playing. When the music will stop is a big question which is difficult to answer at present. Any way I will be there to let you know before the music stops. Till then play on !!!!!!!!