If it was easier to write pre-open for yesterday, it is a very difficult one from here on. For healthier, secular rally from here on towards the all time high is possible only when we have intermittent corrections from time to time. We have had a fantastic rally of 999 sensex points in last four days. There will be little worries even if we correct 100-150 sensex points from here on. But, if we rise faster, then volatility will play the killer role.
At least for some more time, it is safe to buy on dips with a target of 13554 on sensex. With inflation numbers due for the day at noon, expect a slow and sideways movements. On worst case, normal profit booking should be limited to 13100 levels.
As far as Nifty futures are concerned, FIIs bought a huge 2146 Crores in F&O market. And they were net buyers in cash market as well. The comfortable put writing that taking place at 3800 & 3900 levels , and improving Put-Call Ratio suggests that a target 3900+ is achievable in coming days.
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2 comments:
Bala,
write about sectoral outlook da.. and what would be ideal P/E for some key sectors da.
Have you done any analysis on that?
DR
DR,
This is a good suggestion. It needs a little bit more of work. That way I can take this blog to next level too.
Once in a week, I can analyze one sector and write about it.
Thanks,
Bala
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