Update on NIFTY

 

Last week I talked about NIFTY going for a BIG correction and just after I said that, the very next day it started to correct and look how it gave up nearly 9% of the highs (5313) while I suggested to go short @ 5275.

See the blog I posted earlier

http://blog.vikasverma.com/2010/01/nifty-going-back-to-4000_23.html

I see the first major support for the Nifty around 4600, but that cannot hold markets for longer term… we are going to see 4000 or even 3800 level. Too bold levels but we will see them for sure.

So what can we do here in this situation, just sit back and watch market to fall.. definitely not. Go start accumulating… and be choosy.

Few good stocks looks very good to me, RIL, RIL and RIL.  I would advise to buy in 10 lots and pick 10% of the total that you want on every 2-3% fall below 1040.

We can see  all the way to 900-850 level in RIL but we should not wait till that happen and pick it around 1040,1020,1000,980… and so on…

Couple of my favorite stocks which can make a very good portfolio

Infosys Technologies Ltd. (INFOSYSTCH)

Bharti Airtel (BHARTIARTL)

Hindustan Unilever Ltd. (HUL)

Jaiprakash Associates Ltd. (JPASSOCIAT)

DLF Ltd. (DLF)

Reliance Industries Ltd. (RIL)

Unitech Ltd. (UNITECH)

Sun Pharmaceutical Industries Ltd. (SUNPHARMA)

Reliance Communications Ltd. (RCOM)

SBI  (SBIN)

Tata Motors Ltd. (TATAMOTORS)

Reliance Infrastructure Ltd. (RELINFRA)

Hindalco Industries (HINDALCO)

Here is a snapshot of the above folio in the past 4 days and see how the portfolio changed its value compared to Sensex

Disclaimer: I personally have vested interested in some of the stocks and may pick more or sell them all anytime without any disclosure.