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

With the Government and the Opposition parties locked in a Parliamentary logjam, the biggest casualty appears to be economic legislation and now there is a growing worry that the Union Budget as it was presented may not be passed.

As we predicted last week, Alan Greenspan’s Fed rate cut provided some respite to the bleeding Nasdaq and that in turn has provided some breathing space at our bourses with the free fall of the IT pivotals being halted, at least for now.

Traders could sense an opening here and bull operators willing to take a punt could consider taking up long positions at the counters of Satyam Computer at Rs.242 (square up at Rs.268) and Castrol at Rs.231 (square up at Rs.248).

Bear operators could consider taking up short positions at the counters of Bajaj Auto at Rs.264 (cover up at Rs.247) and Silverline at Rs. 90 (cover up at Rs.77).

The long-term portfolio pick of the week is Visualsoft, whose profit warning prompted a battering to a price level where it offers excellent investment value.

(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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