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Previous Week : Sensex rose by 4.3% to close at 19966 |
The S&P CNX Nifty also jumped by 241 points or 4.2% to close at | ||||||
| 5992 for the week | ||||||
It was a week full of positive surprises and we saw a stellar | ||||||
| response to the MOIL IPO | ||||||
| This shows that the appetite for quality government paper is still very | ||||||
| strong and the pipeline continues to remain healthy | ||||||
| The disinvestment ministry is now looking to divest a stake in IOC | ||||||
| and PFC | ||||||
| ||||||
The key question now is can we go higher? Or is it a technical bounce from oversold territory? We were not expecting such a swift recovery from the lows of the previous week and were caught wrong footed. We believe that if we can sustain above the 6030-6050 zone for a couple of days then we can see the levels of 6150-6200 in a short time. | ||||||
We would stick to our view to stay with blue chip names in such a | ||||||
market where we are witnessing a sharp cut in a few midcap counters | ||||||
We are positive on Auto, FMCG, IT and Pharma sectors | ||||||
We advise to add banking stocks on dips and avoid real estate and | ||||||
metals | ||||||
The liquidity scenario will remain tight with a strong IPO pipeline and | ||||||
advance tax outflows in December | ||||||
As a pre-emptive step, the RBI has announced liquidity easing | ||||||
measures by allowing banks to borrow up to 2% of their NDTL till January 28. Since 1996, in 12 out of 14 times, the Nifty has given positive returns in December | ||||||
To sum it up, we are cautiously optimistic on the markets and are | ||||||
recommending addition of quality stocks at lower levels | ||||||
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