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From the Advisory Desk
November 2009 witnessed a slow but steady move of the market in spite of the rattles and buzzes on Dubai Debt Story. 28th of November was the most volatile day of the month when the index jittered with Dubai on its announcement to delay payments to its creditors to the tune of $59 billion. Though the index dipped by 198 points during the day on panic it recouped most of its loss and ended at 68 points negative at 4941.75. Nifty in general gained 6.8% during the month.
Some of the Stocks in our radar for investing at current levels:
| Mundra Port | 2.5% | Infrastructure |
| SREI INTL Finance | 4% | Infrastructure |
| Educomp Solutions Limited | 3% | Education |
| NIIT Technologies | 4% | Education |
| Ranbaxy Laboratories | 4% | Pharma |
| Cairn India Limited | 4% | Oil & Gas |
| Everest Kanto Cylinders Limited | 4% | Capital Goods |
Main Concerns:
Index is currently trading at a PE of 22.9 and historically up moves beyond such levels were witnessed after a steep fall.
Also, the recovery in Global indices is identified as a cause of excess liquidity in the financial system which might drain out at any time.
Short term expectations on the market:
Technically, the index having crossed 5100 is expected to move up to 5300.
It is advisable to invest in selective sectors such as Pharma, Education and Infrastructure, where the fundamentals are good, to take advantage of the rising market.
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