Sep 22, 2007

Time to Books profits or Stay Long ?

With the sensex on the verge of touching 17000 on the back of the bull run witnessed due to Fed rate cut & some strong buying in the frontline counter the time has come to start booking profit.

The markets in the virgin zone and with no negative factor seen in near term to bring the market down time has come to exit the counter which have gone up by 15 % to 20 % in three trading sessions.

Stock like Reliance industries, Jindal steel & power,Larsen & tubro,Ongc,ACC which have gone up significantly are the best counter to book profit and wait till the markets correct to get into the stock.

Sugar sector saw a sentimental pull back on the back of positive new regarding the ethanol mixing raised to 10% & the government will continue to give subsidy to sugar sector Next year as well. Any rally in this counters should be seen as an exit opportunity.

Banking & Capital good sector are seening a good buying Counter like SBI,ICICI BANK & Indusind Bank rallying. Bhel,Engineers India saw buying in past trading session. The best buy in banking sector are Bank of baroda,Canara bank.

Power Sector Stocks are in limelight with the like of NTPC making a life high of 199 along with stock like PTC,Alstom project,Reliance energy & tata power saw fresh buying due the annoucement of opening of the power exchange buy Financial technologies.

IT Stock have scored 52 weeks lows in the market which is rocketing. Stock like Wipro & TCS have already lost 25 % from their all time highs. Avoid the stocks with high exposure to US & BFSI sector which are facing crisis due to the dollar depreciation. Stock like Financial tech,3i infotech,Northgate technologies,Tech Mahindra should be accumalated at lower levels which are less Exposed to the US market & are not affected in a bigger way by the dollar movement.

Overall the Market are in some overbought zone and profit booking at this levels will not be a Wrong move.


1 comment:

Anonymous said...


its not updated site from last september.....? whats happen ...? i m waiting of your reply.