Good news After 15 Nov ....BULL WELCOME
Stocks on Dalal Street look to recover after a crash on Tuesday.We expect the market to open in green atleast in the open on bargain hunting and a close in green is in question looking at the past few sessions
Jet Airways and RNRL were two stocks that looked strong even in a falling market. Rumors that the court decision will be in favor of ADAG has propelled the stock to Rs 72 intraday. The stock gave up most of its gains to close the day at RS 66.50.Indiabulls securities and Indiabulls financials, Godawari Power and Rolta were among the stocks that were under tremendous selling pressure and suffered double digit percentage losses.
It is really tough to be a bull in the current market as 9 out of 10 people on the street are bearish on the market. We strongly believe that the long term bull market is in tact and what we are witnessing is a consolidation phase, where we might see another 5 to 6 percent of correction, before an up move. So watch out for the 4300-4350 level to start accumulating stocks