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

Misery seems to be piling on at the Indian bourses. Just when it seemed that an exceptional budget would retrieve the market, a spate of controversies ranging from taped conversations of the ex-BSE President, payment crisis at the Kolkatta stock exchange and finally, the `tehelka’ expose has rocked the markets violently. It now seems that the writing is on the wall. Perhaps, Greenspan and a Fed rate cut in the US might provide the proverbial silver lining amidst all these dark clouds.

Yet, 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 DSQ Software at Rs.119 (square up at Rs.138) and BSES at Rs.162 (square up at Rs.177).

Bear operators could consider taking up short positions at the counters of Mahindra & Mahindra at Rs.140 (cover up at Rs.127) and Sterlite at Rs.119 (cover up at Rs.105).

The long term portfolio pick of the week is Hughes Software, a fundamentally solid IT company of impeccable pedigree and with immense potential.

(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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