MFF – 090726 – 18:40 Hrs

Two IPO’s are set to hit the market, Adani Power & NHPC. Adani is pretty large issue looking to raise little over 3000 Crs. The opening on 28th of this month may suck out some liquidity which is fuelling the current rally, but the success of the same would send great positive signals to the investors. Success of this IPO may review sentiments of already listed companies in the segment.

The market has yet again moved too fast. There was a reaction at around 15300 as expected in another article posted on this site. The reaction was short lived and after the quick correction of around 350 points the Sensex has climbed back. The mentioned range has to be now broken to chart out the next move. Many people feel there would be one way rally going forward, this may not be the right opinion. We too are bullish on the market but still feel market as of now is going to give us lot of trading opportunities.

US is showing signs of revival and the move of DOW above 9000 gives us further confidence that the next long term bottom would be in the mentioned range of 12000 – 12500 on Sensex. Right signals are being sent on divestment front, this is happening in line the wish mentioned in the article with reference to the union budget. The June Infra output is above expectations in our view. The results declared over last week are good including Reliance (though slightly below market expectations).

The above factors point to further buying, along with speed breakers. Hence selective buying at this point is advised. We had mentioned a stock last week and continue to hold it and yet another stock will be advised next week on the Free SMS Group. Investors can also have trading account with us and keep getting regular updates on the market.

We are also pleased to inform that Vivek Karwa has been inducted in to the management committee of Tamilnadu Investors Association – TIA by getting highest vote share from the investors. We thank each and every member who expressed there confidence by way of vote.

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