What a great month we had. July 2009 we had some great picks in our portfolio. Here is a quick snapshot of our portfolio.
August could be a lot different than July just because we are just out of earnings season. The stimulus to move forward will be limited. We are almost at a critical juncture with NIFTY at 4600. Puncturing through 5000 is possible with current high buy energies. May be we should take some breather, grab those profits and make our stop losses tight. Correction could be on its way but FII are buying relentlessly as if there will be no tomorrow. Equities are outperforming all asset classes. A word of caution since the positive stimulus will be little going forward.
Buy Hexaware with stop loss at 60
Hexaware has just crossed its previous high at 55 but has rallies faster. So the risk reward is limited in this trade. With NIFTY at a critical junction I will ask for a cautious view before entering this trade. We really need to wait out this week.
Excide industries - Buy with stop loss at 80
Excite is excited to move forward. We see a great movement in volume that is a great indicator of support.
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Disclaimer: Please trade with your own judgment or with the help of investment advisor. We are not responsible for any financial losses.
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