Rakesh Jhunjhunwala Views on Indian Market Post Diwali

us toIndian stock market is buzz with activity and is likely to see more gains as we had analysed the Sensex returns in past 10 years post Diwali and same showed an optimistic trend. Moreover Indian year Samvat 2065 has closed with better than expected returns and has beaten gold returns hands down. Sensex has gained 92% since last Diwali, most in past 6 years. We have tried to bring the views from industry experts who are heard in the streets of Dallal street by operators to day traders with sincerity.
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Investment Guru Rakesh Jhunjhunwala sees the Nifty trading in a 4,200-4,400 to 5,800-6,200 range next year. Remeber that Portfolio Rakesh Jhunjhuwala is followed worldwide and we bring you the quote straight from the horses mouth.

Rakesh Jhunjhunwala stated that market will be somewhere near its pervious top." However, he was quick to caution that breaking 6,100-6,200 on the Nifty and holding on to it is not going to be an easy task. "If you price in 2011-12 index earnings, which you would do by December 2010, then it could.

Do remember to check the Rakesh Jhunjhunwala Views on Gold and his comparison of gold and equity will help one to arrive at a logical conclusion for investment.
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True to that other analysts namely Enam Securities feel that and we quote “The outlook now is: we remain optimistic but cautious on the markets, Certainly it is not a time where money is going to be made easily. It is a treacherous period ahead particularly for the rest of the world. The Indian conditions of course have become a lot better.”

Centrum Broking feels that a correction, if it takes place, will be a good opportunity for retail investors to buy. They are bullish on India’s macro-economic picture and have stated that looking at the fundamentals, the valuations are rich but then a correction is a good opportunity for retail participants to enter the market.”

Ambareesh Baliga of Karvy Stock Broking is more bullish ahead of Diwali.

Sajiv Dhawan of JV Capital Services is of the opinion that after the earnings season gets over, the market is going to keep going up. He feels that traders are sitting on the sidelines and even if the markets fell 5-10%, one would be back to where most of these people started to wait for.

Ramesh Damani. Member, BSE, says the bull run in markets is still on. "I would argue that what we saw from October to March or earlier was just a break in a bull market. The theory working in America now is that the falling dollar equals to a higher Dow. At some point it will stop, one cannot debase a currency and expect the market to keep going up." Damani sees panic buying in smallcap and midcap stocks: "If you see the first few midcap results, and if it is an indication of what is to come, there would be panic buying in smallcap and midcap stocks. One should by all means do bottoms up stock picking."

Rajat Bose is of the opinion that Nifty can scale up to 5,150-5,180 levels in short term and feels that there it is likely to meet some resistance. He is optimistic till the time the market holds 5,050 level. Post-Diwali he feels that once Nifty crosses 5,180 one is likely to see 5,300-5,360 levels. “He further feels that Nifty would not go beyond 5,350 now and there would be a correction once the market reaches that level.”

Thus one can make a judgment as we have tried to analyse the trend of stock market post Deepawali through trend analysis, pattern analysis and not to forget the market voices and ofcourse Rakesh Jhunjhunwala is the guy whom even world operators follow for trading in Indian stock markets.


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