Weekly Newsletter - June 27 2008

Crude continues to play spoilsport. The coming week may see it flirt with the US$150 levels after which it could cool for some time. Over the weekend, more noises will be made regarding the ruling government’s plan of action regarding the nuclear deal. The global cues will direct the turn of events.

With most sectors and stocks at the receiving end, select buying will set in depending more on the news flow. While FMCG and pharma remain the defensive bets, some beaten down large caps may be quick to rebound. Except for wild swings due to sector shifts by institutions, the week is likely to see the indices moving in a range.

The advance tax numbers are getting deceptive. The actual results will start flowing in only the following week. Till then selectively pick the large caps. There is no need to buy in a hurry as yet