Calls ONLY for Clients
Spot Below 2605 Nifty weak , no long positions. Above 2650 no short positions only long
We have seen a huge sell off in the ADAG group stocks and we advise investors to stay away from these stocks. Reliance Infra, Reliance Capital and Reliance Communications are expected to decline further in today's trade.ICICI Bank is in the danger of testing the 52- week low (Rs 282)set at the end of 2008.
As expected Seamec Ltd started correcting after a raking in soem gains last week. we recommend investors to sell this stock even at these levels (Rs 54). Stay away from shipping, metal an drilling stocks. Garware Off Shore, Dolphin Offshore and ABG Shipyard are some stocks that could be included in the 'Sell' list in the shor term. The stocks of Punj Lloyd might slide even futher after setting a new 52 weke low of Rs 72 on Monday. The market is undoubtedly in a bear grip and a 'bottom' is really tough to find in the current scenario.