Friends,
Bulls has taste the blood in Akruti Ltd.They have been able to win the game with bears while taking Akruti Ltd from 550 to 2500 , means 5 times in just 3 months.
Bears has been forced to give up.This shows that Bears has become overconfident and they thought that everything goes as per their whims and analysis.But they have been proved wrong and I am sure that this will go on happening in future as well.
The Cash gr has been so much down there is nothing to talk off other then just buying stocks that can become multibaggers .I have already listed them here.
Even heard that many big names who were bearish has cutoff their short position.I am of the view that stock specific approach will work.They can be battered or go up according to the interest of the operators.But we may not see sensex below 7k......
Preelection rally has started and will end on the eve of the day when Voting would start.There can be downside after that due to uncertainty in poll and bears may take full advantage of that and try to break the market.
But as soon as a new government takes oath we should see a new bull run unfolding in India.
I have written here that keep a tab on Crude prices.Crude is above $50 and that shows that demand is going to increase in the world and that is why Crude is going up.I need not to write what happens when demand increases in the world.
But one thing is sure and that is Bears are making mistakes and that is due to overconfidence and they are repeating the same mistake Bulls made in Jan 08.
Dear Rajeev,
ReplyDeleteTnx for your update on large cap stocks.
BTW have u ever looked at Omm Metal n Infra ?? Currently trading at 7 and has fallen a lot over the last one year. Promoters are relentlessly increasing stake every single day (now over 70% ). Reserves of 350 cr while market cap is just 67 cr. book value is 34. Div is 30% (interim 10 + 20 annual)
What do u think about it. Shall eagerly await ur views.
Dear Mitz,
ReplyDeleteYes Om Metal is a good story coming up with the promoters increasing stake as you rightly pointed out.
Where promoters are increasing stake , it makes a good pick , always.
With BV at 34 and stock quoting at 7 , it is a buy ,no doubt about it.
It means that 34 is the minimum we can expect from Om Metal.That is 5 times from here and that is a great return by any standard any time.
Heard that some strong hands are also accumalating it.
sorry to insert a message not relevant to stocks. I would invite reader of this blog to another useful blog
ReplyDeletehttp://saveearthsaveculture.blogspot.com/