Sensex continues to seduce….is up 376 points today at 20445…Pre Diwali Fireworks fuelled by Coal perhaps !….a not so subtle reference to the Mega IPO of Coal India that opens on October 18….sentiment has to be kept sizzling
….and FIIs have already started celebrating Diwali a month or two early by intensifying wholesale buying of ‘Phatakas’ (stocks) and torching the Sensex past 20000 !…..while we Retail Indians yet await Diwali
….just think the Indian Sensex Torch has been carried by the FIIs in the relay past 20000…while most Indians have hardly participated in the Run and have just been cynical and wary spectators!….we are allowing the FIIs to ‘carpetbag’ us !
….hope you guys have got into IDBI Bank (blogged a few days ago)…it’s up smartly to Rs 158 today….and yes,IFCI too has surged past Rs 66 today
…..last Diwali I had given just Two Safe Buys…to play a Safe Diwali…Larsen & Toubro and Gold…Both have been shining throught the year …Wonder what I’ll give this Diwali !
Cheers !
2 thoughts on “Sensex up 376 Points at 20445….Pre Diwali Fireworks fuelled by Coal and Wholesale Buying by FIIs….. while we Retail Indians await Diwali !”
Hardly any stock in the index has reasonable valuations thanks to a glut of hot ETF/FII money.
Gaurav please give us a few ‘value picks’ for Diwali, preferably from mid-cap space.
Here are my picks:
1 Sterlite Technology
2 Godawari Power & Ispat
3 Electrosteel Castings
4 Gayatri Projects(potential to be a 2 bagger or more)
5 Indil Hydro Power & Manganese(Small cap with potential to give 20-50% return)
Waiting for your Diwali value picks!
Cheers!
P.S: Gaurav, whats the name of the book you co-authored? I tried searching for it on Flipkart.com but couldn’t find it. Also a brief synopsis of the book would be nice
Could you also please suggest some books written by Indian authors which are good for beginners in stock markets.
I have already read most of the classics(The Intelligent Investor, Security Analysis, One up on wall street, etc).
Saw couple of books by Parag Parikh & Yogesh Chabria but wasn’t convinced.(Don’t like anything pushed by CNBC18!!)
Thanks!