Volatility of the last week ensured that investors are yet not back in
comfort zone.
Sensex continued its slide based on global cues. Global indices were
determining the pattern of sensex and we feel that the same pattern may continue for a few weeks.
Monday is a crucial day for sensex with Reliance power ( India's largest
IPO ) getting listed on the bourses.
The IPO was quoting a premium of 500 rs in grey market a few weeks back.
It was oversubscribed huge number of times wih lot of hype.
Tommorow will decide its fate and with it the fate of market in the coming days. We will have to wait for FII figures for tommorow to decide the market
movement. FII were heavy sellers for the past few weeks.
Recomendations
Buy NTPC @ 200 . Long Term Target 300-350.
Please maintain a cautious approach and invest only in fundamentally sound companies.
Regards Greg
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