Sensex Recovers Partially,Choppy Days Ahead

27 Nov

Posted by Shyam as IntraDay Calls

Taking a cue from the US and the neighborhood Asian markets the sensex gained back from its lows on Monday to close at 19247 points,up by over 394 points and nifty was up by 123 points.All the stocks from the sensex ended their day in green by gaining a few % points.The sensex supporters included RIL,ONGC,HDFC Bank,Bharti Airtel,TATA Steel and the IT pack.

But the near term future looks a bit dull with US markets down due to fresh credit concerns. Both Dow & Nasdaq ended down by 1.83% and 2.14% in yesterdays trade.Most of the major front line stocks shed weight and were down considerably.The Fed has also decided to inject some $8 billion into the banking system in the coming weeks.

So back home the investors need to be a bit cautious while trading.While the future in long term looks bright as always in India ,but the current events points to some concerns in the coming days.The FIIs also have turned net sellers from the data of SEBI.Invest in the IT sector in every dip and hold on the stocks for 3-4 months period,as they are expected to give some good returns.So overall it all depends upon the mood of the Indian investors from here on.

A few stocks to watch out for:

Khoday(I) cmp 298

Marg cmp 420

Modern India cmp 756

Deccan Gold cmp 53

Simplex real cmp 346

Prime Textile cmp 33

Pudumjee Agr cmp 100

Essar Oil cmp 191

Ispat cmp 41

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