Thankful heart...
Wednesday, January 06, 2010
End of the day…
Market required some breathing as enough longs were built up and yesterday some profit booking was seen in 5000 put. Though the volume was 4 mn shares it was not really significant and convincing to see some correction.
Our call was precautionary as we wanted you to become defensive and ready for correction of 300 to 500 points of Sensex.
We switched gears from momentum stocks to defensive stocks and in some stocks where we had seen bottom earlier hence not much worried.
Bharati FII sources are not willing to confirm that there could be some acquisition in US and not ready bell the cat though they have expressed that target of 425 is confirmed. When we had projected TISCO taking CORUS nobody bought that arguments and finally when happened were surprised.
Similarly Bharati has to test 425 and 450 but why and how is not to funds. But to our mind this just not possible without Bharati pulling out something from the hat. We believe that there could be acquisition in U S which will make Bharati no 1 though we could reach out the identity which could be the takeover target.
Our GTL story of Aircell tower was not taken kindly at first place. It did see light of the day. GTL Infra will come out with rights issue at Rs 45 to 50 range soon. From low of Rs 80 Minda has traveled all the way back to Rs 300 proving that our picks are always good and market will accept them sooner than later. As such the entire sector was our pick.
Our team has now found that TISCO is merging TATA Yodo into TISCO and the ratio will be in favour of Tata Yodo. We know it is very difficult to digest the same and hence we suggest Tayo is value stock and one should invest and wait. As such this has not participated in the rally and hence it can give 100% return in 12 months.
A thankful heart is not only the greatest virtue, but the parent of all the other virtues..
BigGains !!
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