Tuesday, May 08, 2007

 

India Stock Market Update 08 May 2007

Another day, another bout of volatility. It is such days that end up really sapping the will to keep invested in the market. I started out watching the morning sensex being slightly down, and then it rallied to move higher. The sensex stayed higher most of the day, and then profit selling happened again. The stocks that I had seen moving higher started dipping, and I started the day at a point lower than I started the day.
Do I still continue in the market, yes. I believe that the market is taking some time to gather momentum, and should shoot up. However, everywhere I read, the same articles - May is the month when people are away from the stock market, May is the month when everything crashes. Makes a person half want to believe all this and stay away.
The only change I make is that I watch the market more time per day, something that is not advisable. After all, we have other work to do, and unless a person is full time into the market, this is definitely not a good idea.
Stocks that I am currently tracking:
1. Hikal Chemical Industries: Rs. 409
2. Asian Oil Fields: Rs. 61
3. Indiabull Real Estate: Rs. 352 (risky)
4. Avery India: Rs. 58
5. Adhunik Metalics: Rs. 47

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