After a splendid rally last week market closed a new all-time high. The rally was led by SBI, Tata motor, JP associate, M&M,Hindal co etc.SBI jumped 1.65% to new all-time closing high of 3,489.95 but surprisingly newly listed Coal India is just short of Rs.731 crore to surpass SBI as India’s 3rd most valued firm(in terms of market capitalization) after Reliance and ONGC.
With the expectation of good Q2 result from SBI (8th), Tata motor (9th) Tata steel and Tata power (12th) coming week also looking promising however it is advisable to trade stock specific with strict stop loss.
Reliance power, Tata motor and Tata steel is looking good for long position, same time Power grid can be sold as Power Grid FPO price band fixed at Rs 85-90 with an additional 5 % discount to retail investors.
Going ahead majority of the analysts are bullish on Indian equity and expecting at least 15-20% returns from the market next year.