Volatile market ended with modest gains on Tuesday. After staging a strong come back, bulls were unable to hold on to their gains as market players preferred to book their intra-day profits ahead of the FED meet. Banking stocks continued their slide while some bargain hunting was seen in Real estate stocks.
US markets closed on a strong note after stronger-than-expected earnings reported by Lehman and Goldman Sachs. Fed’s decision to cut its main lending rate by 75 bps provided further ammunition to the bulls. With Asian markets trading firm this morning, Indian markets are well poised for a gap-up opening. However, this latest policy action by Fed may just prove to be a short term relief for the markets as the bigger issue still persists i.e. lack of liquidity across global markets. Having said so, the Sensex has lost around 6,000 points in two months. And, plenty of heavyweight stocks are available at discount, which could provide good long term opportunity at current levels.
BuyRIL ABOVE 2160 TARGET OF 2230/???
Dlf our members have holding from 610 ................
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