Daily Call - Sep 24 2008

Stocks are likely to get some respite from their usual clobbering, despite the US markets closing with losses. The markets are going to take notice of Warren Buffet picking up a stake in Goldman Sachs, an event that happened after the markets closed. While the amount $5 billion is not something to feel ecstatic about, but the fact that Buffet has dipped his toes into the troubled markets is something that may enthuse investors. The bail out package may also be cleared by the Congress later today in the US.


The bill regarding Indian Nuclear Deal was cleared by the Senate committee. It now needs the full Senate and Congress blessings. This should also improve sentiment but I doubt, the gains may sustain beyond a few sessions. The Nifty may recover but is unlikely to go beyond the 4225 mark. If it goes, buying the 4250 September Put may be a good idea. Power and capital goods may lead the pack.