labels: nse forecast, investment - general
NSE forecastnews
Ashok Kumar
14 March 2001

Despite the market displaying a marginal intra-day recovery of sorts on Tuesday, the last day of the settlement at the NSE, the underlying sentiment at the bourses remains predominantly nervous.

Last week, we had stated ‘the panic button is thus on and with SEBI belatedly moving in to investigate market malpractices, it seems likely that the drift downwards may accelerate’. That is exactly what happened although the intensity of the crash was fearsome.

Once again, amidst these ruins, there are trading opportunities and bull operators willing to take a punt could consider taking up long positions at the counters of E.Merck at Rs.446 (square up at Rs.477) and VSNL at Rs.292 (square up at Rs.314). Bear operators could consider taking up short positions at the counters of Himachal Futuristic at Rs. 255 (cover up at Rs.226) and Global Tele at Rs.188 (cover up at Rs.151).

The long-term portfolio pick of the week is Cadila Healthcare, a fundamentally solid Indian pharma company on which a FII has recently put out a `Buy’ report.

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(Ashok Kumar heads Lotus Strategic Consultants, Mumbai. While due care has been taken to prepare this report, readers are advised to take specific investment advice before taking any investment decisions.)

 



 

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