Jul 16, 2007

Markets May See Profit Booking In Coming Weeks : Stocktrendz

Market have given sharp upward movement in the past few weeks where the bulls have be buying aggressively in all the front line stocks like Reliance,L&T,Bhel,Rcom & Bharti which have been pushing the market up to new highs

In the coming weeks markets might see some profit booking overall.This decline will improve the overall scenario of the market by creating a new buying opportunity at lower levels.Investors should take fresh position after the correction is done & there are ample buying opportunities in the market after the correction is over.

Stocks Like Hindalco,ITC & Ongc are few of those stocks which are still under valued in this bull run they can give sharp upward spike in coming weeks.Hindalco has already shown good sign of breakout in the past few trading session.

IT stocks can be accumulated at the lower levels for a long term.Stocks like Tech Mahindra,3i Infotech,Northgate Tech are attractive buy on decline,Frontline IT stocks Like TCS & WIPRO are best picks on decline.

Banking & pharma Still are the Best buys during the correction.Stocks like PNB,Canara Bank & Bank of Baroda remain best picks.Cipla,Novartis & pfizer are some picks in the pharma sector.

Sugar & cement stocks should be sold on every rise as they will create a buying opportunity in coming weeks to buy them on lower levels.No clear indication are there from the government side to help this sectors.

Telecom & Power are also a good bet for long term investors who are looking at time frame of 12 to 16 months.Real Estate & infra Sectors are seeing some strong buying after the DLF listing.Stocks like parsvnath Dev & Unitech have seen strong buying in past few trading sessions.

Overall Investor's should start booking profit at this levels & Should wait till the market gives fresh buying opportunities at lower levels.


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