Sunday, February 18, 2007

 

Stock update 18 Feb 2007

It seems like that there is an under-current of fear in the market. This week's sudden crashes sort of had a reason, that is the rate increase by the Reserve Bank of India, but then there is no sudden reason for the upswing of Thursday. Thursday was a day that saw quite a few of my shares hitting Upper Circuit, and these were the same shares that had suddenly dropped by lower circuits in the previous days. These sudden bouts of volatility make no sense, unless you accept the contention that daily changes in the market (and specific stocks) are driven by sentiment, and long term price movements are driven by stock performance and economy movement.
I am a believer in the long term growth of the Indian stock market, and will remain invested; but the watchword is to be vigilant. This is a time when a person needs to take a quick call on their holdings to cash out in the event of sudden crashes; or else, if in for the long term, then can afford to be somewhat less vigilant.

Stocks that I am currently tracking:

1. Bajaj Auto: Rs. 3000
2. Infosys: Rs. 2382
3. IVRCL: Rs. 377
4. Reliance Capital: Rs. 717

No more as of now, just watching and observing.

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