Nifty is over 100 points above its closing on 18th Mar 2010 (5246) when we gave our previous Market View. Our estimate on Nifty was bullish and we still hold the same view (copied below) -
"Nifty is in uptrend. Immediate resistance is 5260 above which the first target is 5315. If Nifty sustains above 5300, in next 4-6 months it may achieve 5700. Markets will become bearish below 5150.
Positive sectors are – infrastructure, capital goods, healthcare, education, agro, metals, auto, IT, energy, pipes, and engineering.
Companies worth buying are – LT, BHEL, ABB, JP, Tata Steel, TCS, BEML, Tata Power, Escorts, Hindalco, GMR, HDFC, Cairn, Jindal Steel.
Keep global risks in mind which can create sharp panic in markets."
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