labels: nse forecast, investment - general
NSE forecastnews
Ashok Kumar
02 January 2001

The first trading session of the new year seems to suggest that the undercurrent in the market is still nervous and sustained selling by domestic funds and downsizing of open positions by operators has translated into a picture of a market that is yet to find its bottom.

Even amidst this confusion, there are trading gains to be had and those with a bearish sentiment could consider taking up short positions at the counters of Infosys Technologies at Rs.5,669 (cover up at Rs.5,487) and TV18 at Rs. 255 (cover up at Rs.231).

Long positions could be considered at the counters of Cadila Healthcare at Rs.152 (square up at Rs.171) and Telco at Rs.88 (square up at Rs.99). The dark horse bet of the week is Mastek whose stock has been beaten down sharply but could bounce back as things could only get better herefrom.

The portfolio pick of the week for discerning investors searching for value among infotech blue chips is Hughes Software whose current valuation does not clearly reflect its intrinsic strength. Yet again, the optimal course of action this week would be to continue making selective purchases.

(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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