I hope every one of you had a good Diwali though markets did not sparkle on Diwali Muhurat trade. This was the first muhurat trade in last seven years where markets closed in negative.
This was precisely due to the reason that Markets had run up too fast. If you my remember my comments earlier, I was mentioning how markets were running ahead of fundamentals and so correction was imminent. The much desired correction is happening now and we may see some more downside before we resume the rally again. The reversal will be sharp and fast like it happened at 13500.
Focus on specific stocks and buy. GMR infra finally crossed 200 and I am happy that it has crossed this resitant figure of 200 and now we should see 250 as the next target once market reverses. We may see some stocks move up eventhough markets are in negative and Reliance Petro could be one stock where the run up will be huge. Please see my another post which I will be postigng seperately which will explain how quickly valuations can change a stock price.
It will be interesting to see how Teledata price will be in the correction mode as the ex-date for teledata demerger is on Friday. There is nothing to worry about Teledata as I know the value for the shares after demerger will be much more than the current value and so there is no need for panic to sell Teledata. It is a safe bet in this falling market.
Buy in this market as per your comfort levels and wait for the reversal. Opportunities keep coming. It is for you to utilise them.
Monday, November 12, 2007
Monday Morning Market Musing - Weak Global Cues
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4 comments:
Dea Sir,
I have 200 RNRL shares at 152.00.Now it is 141.00. What sohuld i do.
Hi Srikanth,
I have some shares of TELEDATA INFORMATICS with avg cost of 64. But this counter is not showing any uptrend as u have said.
What r ur views???
RNRL may touch 120.
what to do for rpl we i purchased few on 273 few on 240. should i purchase more at this level to average the prise?
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