It seems that we lack confidence to see our market above 20,000 mark of Sensex. If we go anywhere near the mark, we simply falter and whimper back to the so called comfort level of some 18,000. Are we still lacking in the conviction of a strong matured Indian Stock Market, which is not dictated by Hangseng, FTSE or Dow as fast as it is doing right now. I agree that no market can be insulated against the development in overall world scenario, if we consider the superimposition of economies.
But if any market is to climb higher, the Indian stock market is the most obvious choice. (Link to earlier post: here, here) Probably even the congenial Bears will tell; right now we are in a very good phase of Bull Run as almost all factors are favouring it. (Link: here)
The present lowering of market has presented us with a good chance to pick up some stocks which were in our radar for some time, at attractive price. The momentum boys RNRL, RPL, Nagarjuna Fertiliser, Bongaigaon Refinery and a host of other stocks have came down to a comfortable level to pick up. Some bigger boys L&T, Reliance, REL, Punj Lloyd, RCOM, State Bank etc. are now in pick-able price.
No wonder market pundits welcome correction. Should we wait for this correction to be over or just pick them up like that? It is a million dollar question. If we cannot effort to spend time in front of a computer to pick up stocks at theoretically correct time: it is simply not possible. For somebody of my type, who has engaged in other important jobs and cannot effort to spend time in front of a computer, I think picking up stock at a price at my comfortable level is the best bet.
I am sure; anyway we are going to have our market at a higher level in near future.
Now a small stock-poem
My stock: I do not sell it
But if any market is to climb higher, the Indian stock market is the most obvious choice. (Link to earlier post: here, here) Probably even the congenial Bears will tell; right now we are in a very good phase of Bull Run as almost all factors are favouring it. (Link: here)
The present lowering of market has presented us with a good chance to pick up some stocks which were in our radar for some time, at attractive price. The momentum boys RNRL, RPL, Nagarjuna Fertiliser, Bongaigaon Refinery and a host of other stocks have came down to a comfortable level to pick up. Some bigger boys L&T, Reliance, REL, Punj Lloyd, RCOM, State Bank etc. are now in pick-able price.
No wonder market pundits welcome correction. Should we wait for this correction to be over or just pick them up like that? It is a million dollar question. If we cannot effort to spend time in front of a computer to pick up stocks at theoretically correct time: it is simply not possible. For somebody of my type, who has engaged in other important jobs and cannot effort to spend time in front of a computer, I think picking up stock at a price at my comfortable level is the best bet.
I am sure; anyway we are going to have our market at a higher level in near future.
Now a small stock-poem
My stock: I do not sell it
If my stock remains at level, I do not sell it,
I wait for my stock to react.
If my stock goes down, I do not sell it,
I should not book loss, I can wait for some more time.
If my stock goes up, I do not sell it,
My stock will go up still higher.
I have my disciplines, I keep that in my mind
But never to practice.
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