The bulls are showing no signs of getting dizzy at the top. Stock specific or rather result specific approach needs to be adopted at this stage. Bears will hope that the bulls cave in after spending some time at the peak. Only a global meltdown could dampen sentiment at this stage.
While valuations may seem expensive, investors don’t seem to be in a hurry to book profits. With many more results awaited, a sudden collapse is always in the cards. We don’t want to sound pessimistic. Just reiterating caution at these levels. Expect alternate bouts of gains and pains in the week ahead.
TCS, Zee News, Petronet LNG, GDL, LIC Housing Finance, Cummins, Tata Tea, REL, IDBI, RNRL, Polaris, ACC, L&T, Tech Mahindra, Ranbaxy and Satyam Comp are among the major companies, which are expected to deliver their earnings in the coming week.
Liquidity seems to flow in with FIIs investing around Rs20bn (excluding Friday’s figures) in the cash segment.
Either stay put with fundamentally sound stocks or do your churning and exit counters which have run up too quickly, especially during the last couple of weeks.