Home > Market View, NIFTY Strategy > US markets up again-India to follow?

US markets up again-India to follow?

Thursday, August 9, 2007 Leave a comment Go to comments

US markets are up again backed by strong results from CISCO. Read the US market report.

Volatility was again higher as bulls and bears are having a good fight.

Asia is following US and India may follow soon. Watch out for 4530 levels on the upside. This is also a time to pick your favourite stocks and dump the junk in your portfolio.

If global markets stabilize and stay moderately bullish, there is a probability that NIFTY might take a strike at all time high of 4650 again within next two weeks. I would personally like to see it go there slowly but if there are still lots of short positions in the system,then again brave yourself for some volatile sessions ahead.

This has become a difficult market where only way to make money is to do very short term trading or add to your long term portfolio. If that is not your style, stay away. Do not jump in trying to do something which is not your forte.

Some stock ideas like PUNJ LLOYD and ADANI Enterprises are doing well. Also Crompton Greaves and Cummins are showing strength. NAUKRI.com/INFOEDGE also flared up yesterday and might trend up higher.In banking Kotak and SBI continue to trend up nicely.

IT moved up yesterday on ECB curb news.It will be important to see if the price sustains at higher levels or if investors offload the stock at higher levels. 2040-2050 remain a very strong resistance for INFOSYS.

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  1. sagecapital
    Thursday, August 9, 2007 at 9:28 pm

    I can not comment on the fundamentals of the company. The stock is currently trading at 7 with a high of 11. Now you can keep it on your scanner list and if it is going to be a multibagger, it will sure go from 7 to 14 to 28 to 56. Multibaggers continue to move up, so finding an entry point won’t be difficult. I would be a buyer in the stock only after it closes above 11.If the stock is not going to be a multibagger, then I might never enter as the stock might never trend up!

  2. Satish
    Thursday, August 9, 2007 at 3:24 pm

    Hi,

    Do you have any idea about the financials of IKF technologies ? I read that they are into biofuels, which is poised to be a big industry in a few years time. I know that you are trend follower, but thought maybe you could shed some light on this scrip.

    Basically, could this be a multibagger ?

    Thanks,
    Satish

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