Finally, there is something to cheer about on Valentines day. There were positive news everywhere - US retail sales were better than expected, Japan economy grew more than expected and the the markets did not disappoint.
It was a brilliant day. Sensex closed at 17766, up 817 points and Nifty at 5202, up 272 points from the previous close. More importantly there were no wild swings during the day. It was pretty stable which is the most positive news.
European markets are also trading in the positive and if US closes positive today then we can expect a bonanza tomorrow and at least I can recover all my losses. Looking forward to it.
The one stock I am worried about in my portfolio is Satyam Computers. I bought it at 442 and have been holding it for 4 months now and I have not seen go past 442, expect briefly. So I am in a dilemma to sell it or hold it. Lets see how it goes tomorrow.
I end this post with some of the Analyst's view from the day
In the IT space, if Satyam stays above Rs 420 one can hold on to the stock for long term and it has a target price of Rs 500-520 in two weeks, says says MB Singh, technical analyst, on Zee Business
Following the fuel price hike, ONGC amd Oil India will share 33% of under recoveries, says Oil Secretary M.S. Srinivasan, on NDTV Profit
If one has a 6-8 month horizon, stocks to accumulate are ICICI Bank, SBI, BHEL and L&T as they are likely to offer good returns, says Shishir Kedia, technical anlayst with Religare Securities, on CNBC Awaaz
Investment sentiment continues to be cautious and that trend is likely to continue for a few weeks, says Malcolm Wood of Morgan Stanley, on CNBC TV18. The market is offering tremendous buying opportunity at this time, he adds
Global concerns are not yet over and we are still not out of the woods, feels Rajesh Jain of Pranav Securities, on NDTV Profit
The market had gone down too far, too fast and it is advisable to wait and watch in this scenario, says Gaurang Shah of Geojit Financials, on NDTV Profit. This relief rally needs to be sustained and the market is not running away on the higher side for investors, he advises
The market has got some positive breather from the oil price hike, says Deven Choksey of KR Choksey, on CNBC-TV18. Next week the market is likely to see be in the range of 16200-18500, he adds
The petrol and diesel price hike will see an annualised benefit to oil companies of around Rs 6500 crore, reports NDTV Profit. The price hike will see IOC benefit by Rs 410 crore for the remaining of FY08, says S V Narasimhan, director, finance of the company, on the channel
RK
RentalAndRealEstate.com
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