Christmas Shopping or Christmas Sale?
Christmas is still over a week away but bulls and bears are left directionless. The fall in the market this week, forced investors to be on the guard. People on the Street were getting into the habit of seeing the market go higher and higher. A short downtrend immediately has thrown up their concern list. Having said that, one can look at investing in fundamentally strong scrips for the long term. Advance tax numbers are already doing the rounds. According to reports advance tax figures paid by the companies are as follows, Grasim: Rs2bn, Hindalco:Rs3bn, Reliance Industries: Rs4.44bn and Glaxo: Rs580mn. Volumes will again play a major role this time around as at the start of the week, the markets fell sharply with huge volumes. The recovery has not be accompanied by healthy volumes. Despite the volatility on the bourses, Foreign Investors interest in India continues to remain pretty strong. They hedged their positions by buying in cash and selling in F&O. Overseas liquidity is likely to slow down. When volumes are less, expect dullness with occasional swings.