Weekly Newsletter - Aug 29 2009

The bulls seem to be in an adventurous mood as they pushed the indices to a fresh 2009 highs. The coming week has some data in terms of first quarter GDP numbers and Import-Export figures. The new month will also see auto sales and cement dispatch numbers coming in. The Reliance-RNRL issue will continue to hog the limelight even though the Supreme Court has decided to commence final hearing on the high-profile gas dispute from October 20. Technical analysts are upbeat and see the 5000-mark breaching in a few weeks. Notwithstanding the lack of real improvement in the economy, investor exuberance appears to have escalated. Stay cautious and don’t overindulge in stock-buying as any reversal could prove difficult for investors to digest.