Rajesh Sharma
Today, the market opens after several days. The sellers and buyers both would be in a wait and watch mode. Hence, volume may be below normal - may be around 50-60 corer. Index may remain stagnant with 4-5 points either side.
Today, hence, is neither a selling day nor a buying day for many.
With bonus at higher side, CBBL could get some attraction and there could be more buyers for the early hours of business, but in the second half, seller pressure may pull down its price. It is MFI and people are reluctant to hold MFI shares recently.
SCB price may fall further slightly but when it becomes clearer that FPO money will be distributed as bonus shares, its price may start moving up from next week.
The prime meat of SICL has already been eaten when it jumped from 3500 to 4100 or more. Hence, its phase of fast movement has been effectively over for sometime. Its volume also may not be that high now. Still, there will be some attraction and average sell at average price range may continue.
Overall, banking may remain subdued and index may fall down slightly today but may start moving up next week. MFIs will stay where they are for sometime and hydro-power may remain unattractive. After a big jump in general insurance companies already and still continuing, life insurance companies may get some attention. Hence, both general insurance and life insurance companies may see upward trend, particularly from next week. Others sector including NTC may generally stay at the same level where the are now.
For trading, small and medium caps with rosy news/reports are better in all sectors and for investment well managed companies could be far beneficial. For the investors who buy now and plan to disappear for another 5 years, companies like Nabil, NIB, CHCL, LIC, SIL and SHL could be better as they are less risky and are at good price range. This is just my opinion based on experience and observation.
Companies to watch out today: CBBL and SCB
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