– 100923 – Hindustan Chamber of Commerce, in Chennai had organised a program on topic “Sensex 2010” on 27/Jan/2009 where Mr. Vivek Karwa was a speaker. We were just browsing through Jan’10 month magazine of the chamber magazine and were pleased to read that the year end target on Sensex at that point of time itself was given at 19300-20200 by us. Sensex has hit the target in Sep’10 itself and we think we are eligible to be pleased further more since Sensex hit a high of 20105.54 just recently and is now struggling to cross the upper range of the target and has marginally fallen past two days.
– Most of the investors are still bearish since the Sensex has rallied too much too fast in just very little time. Market is always supreme and usually does not behave the way investors want it to, hence predicting it our hearts way is going to be totally futile, we need to just simply accept the fact that the trend right now is clearly up and hence either stay invested or just stay in some cash for that correction to come, since corrections are also part of the trend, but Don’t Go Short in this Market! atleast if you don’t have deep pockets to cushion the tremor of short coverings.
– FII’s are very bullish on India and it’s potential to deliver returns to businesses, hence the money clouds are just bursting into Indian market’s taking the index’s for a free ride. The rally this time has not been broad based one and is supported by very few stocks this time. Hence we may see time correction in the market until a upmove spills into other stocks and sectors which have not participated yet.
– Look at the contradiction! One side our economy is so strong and the entrepreneurs are able to really excel in all spheres of life, Now look at the other side… The way sheer mismanagement of the Common Wealth Games by the Govt. and its cronies have brought SHAME to the Nation 😦
– Congresses own man Mr. Mani Shankar Iyer had publicly cited concerns over the games some time back, though not totally appropriate, were enough to send the message to all people concerned. The irony is there are scams running in thousands and lacs of crores but no action from the Govt. The other day a friend was cracking a joke that if you take a satellite picture of Delhi at present “it would look like a Moon” We suggest you join this news sms group called MyIndia
– Our markets at present may take come cues from the global indices, particularly the Dow. The Dow right now looks on a strong footing. We feel the Dow would move slowly to 11150 – 11260 and take some resistance there. If 11260 is broken and the index sustains above the level then the next target would be 12000+ Keeping these levels in mind we feel that investors in India should focus beyond Sensex and looks at sectors and stocks which still have to catch up with rest of the market.
– At this point we would like to recommend one more stock to investors which was spoken about by us on NDTV Profit channel recently at around Rs.171. The Stock is Sterlite Industries. We feel Niyamgiri or No Niyamgiri the other businesses of the company are doing well and the stock is currently undervalued and can be bought with a target of 200+ in a time frame of 6 to 12 months. If we select stocks judiciously we can beat Sensex returns or even any Mutual Fund returns. Key is to buy the right one’s.
– Stay connected with MarketFastFood
Stock Specific Disclosures: We hold Sterlite Industries in our portfolios and these stocks have been earlier itself been recommended to MFF subscribers. Our Stock Broking clients also may be holding them as we have been recommending these stocks to them.
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