Published on Thu, Jun 07, 2007 at 09:19 | Source : Moneycontrol.com
Updated at Thu, Jun 07, 2007 at 17:42
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Global cues not good: Teckchandani
Global cues are not supporting markets this morning, they are distinctly negative. The trend will be of markets opening weak. On the Nifty 4,300 is a far cry and even 4,200 remains critical.
Global cues are not supporting markets this morning, they are distinctly negative. The trend will be of markets opening weak. On the Nifty 4,300 is a far cry and even 4,200 remains critical. The real theme is what's happening to the inflation and interest rate scenarios and what the Central Bank could do. Experts say that remains the biggest grey area and, going forward, will be a concern.
What may go on for another 10 days, is a minor correction. But this not the end of the bull run in equities.
Gul Teckchandani is of the view that obviously markets are going down and everybody is concerned. But, at the same time, we are not playing for the day. We'll have to wait and watch, it will be difficult to predict prices.
From the last few weeks, when the markets crossed 14,000 levels, he says that one has to be careful in estimating top stocks' earnings growth. The opportunity will be in the B group. Even if one identifies the growth stock, it will correct itself in the interim, before it moves up. There are several companies in the B group that afford opportunity. Macro numbers like automobiles is a sign of concern. All parameters like worldwide inflation talks interest rate hikes are not good for the equity markets in the world. Although, new offerings will also bring more paper in the market.
