I will be out of India on a business trip for a few days, flying out tomorrow and returning on Nov 9th. In between this time, I will not be tracking the markets.
I expect the markets to be sideways in this period, occassionally going up and at times correcting. But these are the preparation times for the new highs to be made in winter. Many of the scripts are at over premium valuations though, so if targets are met, book profits in at least 50% holdings and if it is a relatively weak script, book profit on even 100% holdings. If script prices are down and you are stuck in a call, do not panic. As I have repeatedly said, invest in small quantities in each company and average in small quantities when the script is down 15%, then 20% and so on. 75% of my calls have reached their targets, many of them much before due time. Another 20% will also do so, may be just within time or with some delay. I agree that around 4-5% may not meet the targets; however so far I have not seen any of them.
NIFTY can move to 6232 in the next 4-5 days and can even move up to 6430 in the next 2 months.
COAL INDIA IPO: Analysts are now saying based on the IPO response that CIL may list at 280 and move up to 300. I had said this 1 week back (CIL will list somewhere near 270). Let us see what happens tomorrow. CIL can go up to 350 in the next 1-2 months, but you may book some profits in the range of 300-310.
To all group members and well wishers of powerfulpicks, Happy Deepavali and take care...see you soon!
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