Home > Market View > Markets at 5200-Which sectors to back now?

Markets at 5200-Which sectors to back now?

Sunday, December 27, 2009 Leave a comment Go to comments

Two sessions was all what the bulls required to get back in front. This is always an interesting thing in market 1-2 good sessions can sometimes change the complete market picture! As there might be quite a few shorts in the system still left, one might see extension of this rally.

As mentioned in the last post, I had advised to trim the positions as the short term outlook was not clear. Now that some momentum is back in the system, traders can slowly start deploying cash again.

If I see sector specific moves- Steel, auto and IT come to mind. Did you have a chance to look at SAIL, Tata Steel and JSW Steel? Have you noticed how Tata Motors  is climbing steadily? Did you know that Wipro is finally reaching levels it had last seen in 2000?

Banking sector also got a reprieve last week with signals coming from the government that rate hikes might not come as quickly anticipated.

Another positive sign is the lack of intraday volatility. This makes the job of the bulls much more easy.

This year is closing on a good note. Q1 2010 might still be okay as long as general scepticism about the markets prevail.

Haven’t you heard from the market experts that 2010 might not be as good as 2009?

Categories: Market View
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