February 8, 2011 Leave a comment
Yesterday: Yesterday was a choppy market with all experts divided on which direction will go. The trade today is also expected to on same lines. There is too much uncertainty. Don’t get into hefty long positions for today.
Prediction: Unpredictable trade and to be safe Future contracts for March can be purchased to hedge the equity investments. Hold your mid caps and mutual funds, it is the worst time to offload them. Stay away from MFI ,Real estate , Infrastructure at least for now.
Stock to Watch: ICICI has breached its several lows. It can be a good time to enter the script. Gail is another long term counter showing some short term weakness. It will be good to get inside these scripts at these valuations. SBI looks bit expensive vis-a-vis the hit borne by other banking stocks. Hold on to your mutual funds if they are one of those dividend based schemes. All dividends are expected by March 15.
Inflation , oil breaching the 100$ barrel mark, political instability due to Subramanyam Swamy requested governor nod to prosecute Tamil Nadu Chief Minister Karunanidhi and the new ISRO spectrum scam can be bigger than the whole telecom scam are ruling the minds of investors.
FII‘s might return to take charge of market just before the budget session.
Tomorrow shall put the report on what happened in market today.