Market Pulse: Traders rush to book profits

The stock markets closed down today admist bouts of volatility. Profit booking was clearly evident in the last hour of trading with many stocks coming off their day's high.
The Nifty closed at 2910 down 4 pts. However, sensex shed around 50 points.

However, selective buying was seen in stocks such as IPCL, Punj LLoyd and Reliance industries.
Other stocks which showed interesting patterns during the day were Pyramid Retail, Welspun Gujarat,Tulip ITS, Radha Madhav, Ranbaxy and GE Shipping.

The markets are expected to remain volatile for the coming sessions. Investors should avoid fresh entry into overheated stocks as they may be doomed in the coming days.

IPO route still remains an attractive option to park the surplus funds.

6 comments:

Anonymous said...

Hi Rajesh,
Could you please specify some stocks which we should be careful of?

Anonymous said...

Hi Rajesh,

What are your views on Eastern Silk? Will it drop back to its 170 levels?
TIA

spi_spot said...

Hi! Rajesh,

What forthcoming IPO's do you think are attractive and we should invest in?

Raj Rayon, Royal Orchid..

I appreciate your valuable guidance on this.

Anonymous said...

HI Rajesh,

Could you please give your view on PUNJ LYOD. Shud we hold or sell?

Thank you.

Rajesh Soni said...

Dear Spi_spot,
An update on current IPO's will be shortly available on the blog.

Rajesh Soni said...

Yes, Punj Lloyd is a good stock for a long term hold.