Jul 30, 2013, 05.52 PM IST
Market experts suggest investors to go short till 5,750 and recommend bets on the pharma sector while clearly avoiding PSUs.
Like this story, share it with millions of investors on M3
Go short till 5,750; bet on pharma, avoid PSUs: Experts
Market experts suggest investors to go short till 5,750 and recommend bets on the pharma sector while clearly avoiding PSUs.
Like this story, share it with millions of investors on M3
Go short till 5,750; bet on pharma, avoid PSUs: Experts
Market experts suggest investors to go short till 5,750 and recommend bets on the pharma sector while clearly avoiding PSUs.
"Clearly, the markets are in a downtrend. Investors should be positioned on the short side. The Nifty at 5,750 has a very strong support zone. Unless something unusual happens, this is the point at which the Nifty should pause a bit before turning choppy. This is probably the time when profits should be booked on short positions," he told CNBC-TV18.
On the reason for the market's disappointment, Tirthankar Patnaik, EVP - institutional sales, Religare Capital Markets explains that that the central bank's decision to leave rates unchanged may have been viewed as dovish and inadequate to either stem depreciation in the rupee or abandoning the currency to its fate. "This ambivalence might have probably spooked the market."
With the rupee returning to the 60-mark, Tirthankar Patnaik estimates the currency to rule in a 58-to-62 band. "However, the rupee has a downside bias because I believe the weakness in the currency is not domestic in nature."
On Dr Reddy's Laboratories , Tirthankar Patnaik says that the revenue declared came as a negative surprise. "Though I remain positive on the pharma space and favour Dr Reddys along, Sun Pharma and Lupin . Overall, the fall in revenue is a cause of concern."
Recommending investors a strategy for PSU banks, Patnaik says, "Over the last three quarters, I have maintained that PSU banks cannot be part of core holdings. PSU-bank stocks are lucrative only during earnings season when there are trading profits to be made."
On whether concerns on the monetary policy and the rupee have lowered the range for market movement, Patnaik adds that this will happen only when FMCG stocks capitulate. "The FMCG sector is most sensitive to worries regarding growth and stiff interest rates."
From DJ EU Officials Spain Aid Cap Of 100 Bn Euros 'should Be Enough'
The latest earning numbers FIRST on CNBC-TV18
Anda sedang membaca artikel tentang
Go short till 5,750; bet on pharma, avoid PSUs: Experts
Dengan url
http://harmonisem.blogspot.com/2013/07/go-short-till-5750-bet-on-pharma-avoid.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Go short till 5,750; bet on pharma, avoid PSUs: Experts
namun jangan lupa untuk meletakkan link
Go short till 5,750; bet on pharma, avoid PSUs: Experts
sebagai sumbernya
0 komentar:
Posting Komentar