The horizontal movement at the Indian bourses
continues unabated with the prices of key pivotals retracing its small gains almost
immediately on registration. With SEBI dragging its feet on the issue of scrapping
badla and ALBM, there seems to be no respite in sight and
uncertainty continues to loom large.
Overall, the sentiment remains largely
negative with no positive news inflows on the horizon.
Chronic bull operators, willing to take a
punt could consider taking up long positions at the counters of HCL Technologies at Rs.438
(square up at Rs.471) and Hindustan Lever at Rs.203 (square up at Rs.216).
Bear operators could consider taking up short
positions at the counters of Sterlite at Rs. 141 (cover up at Rs.129) and Satyam Computer
at Rs.249 (cover up at Rs.232).
The dark horse pick of this week is Aksh
Optifibre, which has an impressive order-book position on hand.
(Ashok Kumar heads Lotus Strategic Consultants,
Mumbai. While due care has been taken to prepare this report, readers are advised to take
specific investment advice before taking any investment decisions.)