The count down to the The D Day, or shall we say "The 'V' Day", has started. The whole nation's discussions and anxieties are revolving on whether the Govt will succeed in getting the 'Vote of Confidence' or not.
Market participants, who as a group are by nature quite sensitive to such events, are all the more more anxious and also cautious as to the outcome.
The Nifty has been moving up in last two days in the run up for the V Day - as expected and indicated in my blog a couple of days back. Whether my evaluation- that the market should rise before the event and then retrace irrespective of the outcome, proves right , time will tell. Till then fingers crossed !
In the meantime, one stock which has been beaten down and is showing some signs of revival is UNITECH.
It closed at 152/- today and I expect that a break out above Rs 158.50 should give it enough momentum to test levels between 182-195. Consider Rs 140 as important support for any longs
Happy Trading !
CA Rajiv D Khatlawala
No comments:
Post a Comment