Weekly news letter and Stocks to watch now.

>> Sunday, November 23, 2008

Indian Stock Markets have witnessed a worst hit. Indian markets are now down over 57% from its peak. Its almost at its 3 years low.

Markets need a good breath now. Traders are worried and even Investors.
Recession has covered the whole globe.
No one has been left out. No fundamentals in markets as of now.

When I look at NIFTY charts I see an uptrend to come till 2780 in short term.
Indian markets will be the first to recover says SEBI cheaf CB Bhave.

Stocks you should look out are.

LNT - Plans to add 10,000 staff by 2010 and the stock has good fundamentals so a reason to buy its Support is at 665 and 711 and a resistance for upmove at 791 and 825.

Unitech - This is one of the most beaten out scrip 52 week High of 600 odd and low of 27 odd. Makes sense in buying and booking profits at 40 odd levels.

SBI - Inflation has cooled and if RBI takes some action in reducing the CRR or Repo Rate it will benefit and then makes sense to buy for short term.

ICICI - The same above reason apples and even if you go to see its is one of the most beeten out blue chip after DLF and Hindalco.

Sectors I am bullish on -

Infrastructure and Banking and later Metals.
All of these sectors have witnessed the worst hit ever so chances are there for these sectors to recover very fast.

Happy Investing .
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