The
Indian markets maintained pause due to the phenomenal rise by more than 135
points in its previous session kept some selling pressure at the top. The Nifty
is technically very well placed above 6020 level and it may even see 5950 but
it is not advisable to SELL but BUY at lower levels. There is some concern in
the TOP banking stocks as un-winding is fast and little roll-over is making nervous, more
seriously. Any way for now, the markets are in BULL GRIP and be with the LEADERS.
The
Ambuja Cements is ripe for NEWS case in its category. The Tech stocks saw
some unwinding except WIPRO which built positions before results. As I
mentioned earlier, the stock may correct temporarily but has tremendous potential
to cross 700 levels. The HCL tech, TCS and TechMahindra also poised for bigger
growth in future.
As
mentioned in my earlier postings about “STEEL has good STRENGTH” to offer money
and JSW Steel will reward in this category. The big surprise is from RIL side as the
stock has not built any significant positions but people prefer to offload. Whereas
CAIRN will create big jump may be in Nov series and going forward. The Bharati
case is even more surprising to me. I am seriously expecting some BIG news from
this counter as there is some relentless unwinding is happening. The Auropharma
may see some more upside may touch 250 levels easily. The other big pharma
counters like Ranbaxy & SUN are good for long-term bets.
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