Is the worst over?

Is the worst over?

After 7 days of relentless fall in indian equity markets today the sensex recorded biggest ever intraday gain and ended up 864 (5.6%) points .

Does this means the worst is over and we can start buying at these prices.

The stocks which have fallen most were rallied most today and the stocks which fallen less posted marginal gain which indicates this is a technical rally (short covering rally) .
The volumes are very less and open intrest has came down with the price raise in the counters like RNRL ,RPL.Ispat etc so i think it is not advisable to buy any of these counter and also should reduce their exposure to this counters by booking losses ..

So I believe we are going to get good buying opertunities in next couple of weeks probably below 16K levels..

I am worried abt my holding to the Gujarat NRE as considering the US economic situation the commodity prices may fall which can hit its profitability , So looking to reduce the exposure to it and shift to fundamentally better counter..


RK

Posted by Ravikanth at 10:20 0 comments