Sunday, April 01, 2007

 

India stock market update 1 April 2007

Even though I am posting this on the 1st of April, I am not going to say anything along the likes of an April Fool's joke. Dealing in the stock market is no joking matter, and the only time when I am really proud of my smile is when the market is crashing down a cliff edge, and my heart does no more than a couple of missed beats.
I would think Monday is going to be another day like that. With the rate hikes announced by the RBI after trading hours on Friday, Monday will be the first trading day after this hike, and common wisdom is that the market will open down. I wish I am brave (and hopefully not stupid) by hunting for bargains. I still believe that even the medium term outlook is positive, as long as these jokers ruling our country do not drag us down with some insane policies.
Selling in distress is not something that I am really looking at, and being realistic, if selling in distress is really happening, by the time my ICICIDirect account lets me trade, stocks will anyhow be at lower circuit. :-) It is pretty tempting for me to put more money into the market, but there is an element of caution to keep on watching things.

Stocks that I am currently tracking:

1. Accel Frontline: Rs. 60.50

2. Ashiana Housing: Rs. 172

3. Allianz Securities: Rs 58

4. Infosys: Rs. 2016

5. Bharti Airtel: Rs. 759

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