With some degree of nervousness marking the market, it is not easy to be choosing a scrip for trading. It is very easy for different market players to have opposing perception. Therefore, even short selling is fraught with danger. Especially so, when FIIs find Indian stocks attractive.Under the circumstances, the best you can do is zero in to a scrip which has stood the heat of the market. It then has a chance to move up, if the market outlook turns positive.
On the other hand, if the market continues to be weak, the scrip qualifies itself as a good value investment until the storm blows over. BSES qualifies by all these criteria. The scrip has closed firmly. The daily stochastic is positive and has given a buy signal. If the market sentiment improves it could move up to Rs 169. Pick the scrip at Rs 148, if the market dips. Very short term traders can keep a stop loss at Rs 142.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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