Friends, I have been silent on this blog for some time. Well, no prizes for guessing, most of the talking has been done by FIIs and foreign funds elevating SENSEX & Nifty to all time highs for the 2nd time in Indian Finance history. Sensex touched 20000 mark once again in 2.5 years time - an incredible achievement - it happens only in INDIA !!
Folks who are invested in blue chips make the merry - ON TOP - as we all know this whole Sept rally (Nifty zoomed from 5400 odd levels to peak @6030) was led by large caps primarily. I will suggest all such folks to remain invested as we can see prolific buying in next quarter. There might be a genuine monthly October correction (partly due to continuous 10 days of FII rally and partly, on historic October downfall trends) probably to 5700 levels, take a breather and then Sensex should rally again in November & December (I assume there is no -ve financial storm in any foreign market)
I also foresee that small caps & even mid caps to some extent, can rally in near time as they were silent spectators to current Sept FII rally. On contrary, lot of recommended stocks have corrected a bit and this is aother golden oppurtunity to enter at current levels. Lastly, I will say that we wont see a similar turmoil as seen post Feb2008 Sensex peak. We dont expect a sharp correction this time as rally is rationally supported by great Indian Inc growth story and corporate earnings. With above than normal monsoons, we are on edge of another fruitful financial quarter and soon I will update with Sept Q results for all recommended stocks.
Happy investing :)
No comments:
Post a Comment