It was a short trading week with the markets being in the negative for the first 2 days and making up the losses on Thursday. The highlight of the week were the IT Results.
1. The IT companies posted pretty decent set of results lead by TCS. This lead to a spurt in the IT stocks and the markets. As mentioned earlier, the IT stocks can act as a hedge for a BJP defeat.
2. The FIIs were net sellers on Tuesday ad Wednesday and were buyers on Thursday. The pace of flows has slowed down. In April, they have bought only 4000 crores so far as compared to 25000 crores in March.
3. Reliance results after markets hours on Thursday were ok meeting expectations.With a 3 year perspective, RIl becomes a buy now.
4. Next week is a truncated week with expiry on Wednesday and Thursday being a election holiday. The supports mentioned last week stand and are 6610, 6480 and 6376. If the market crosses and sustains 6819, then we may see new highs.
5. I have worked out certain post poll scenarios, which I would publish on Wednesday.
Net-net, no change from last week, buy on dips and wait for May 16th continues.
1. The IT companies posted pretty decent set of results lead by TCS. This lead to a spurt in the IT stocks and the markets. As mentioned earlier, the IT stocks can act as a hedge for a BJP defeat.
2. The FIIs were net sellers on Tuesday ad Wednesday and were buyers on Thursday. The pace of flows has slowed down. In April, they have bought only 4000 crores so far as compared to 25000 crores in March.
3. Reliance results after markets hours on Thursday were ok meeting expectations.With a 3 year perspective, RIl becomes a buy now.
4. Next week is a truncated week with expiry on Wednesday and Thursday being a election holiday. The supports mentioned last week stand and are 6610, 6480 and 6376. If the market crosses and sustains 6819, then we may see new highs.
5. I have worked out certain post poll scenarios, which I would publish on Wednesday.
Net-net, no change from last week, buy on dips and wait for May 16th continues.
Hello Sir
ReplyDeleteWaiting for your post poll analysis.
Regards
It has been posted on subhankar blog
ReplyDelete