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Market likely to focus on infotech scrips
Ashok Kumar
JANUARY 25: There is an alarming school of thought emerging at the boursesthat the net FII inflow/outflow figures, which have a very significantimpact as far as sentiment at the bourses is concerned, are being cooked upby the so-called New Bull and his cronies who, the grapevine has it, havemanaged to register FIIs abroad, ensuring that the Net FII outflow figuresnever ever reach alarming proportions, which could trigger off retailselling on the market-front. This would, in turn, lead to a false sense of complacency at the boursesamong retail investors, which is what is really driving the market at themoment. Of course, the fact that sector-specific infotech funds aretelegraphing well in advance, where the huge funds they collect will flow,ensures that operators can make hay while the sun shines. Hence, itlogically flows that since most of these funds are infotech funds, that iswhere the action will continue to be, for the time being, at least. Traders with a bullish temperament could thus consider exposure at thecounters of Hughes Software at Rs 2629 (cover up at Rs 2717) and PolarisSoftware at Rs 1744 (cover up at Rs 1812). Bear operators could considershort positions at the counters of BPL at Rs 317 (cover up at Rs 291) andTelco at Rs 209 (cover up at Rs 184). The dark horse bet of the week at thecurrent price level is Prism Cement while E.Merck continues to offer longterm investors a good portfolio choice.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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