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Jan 01, 1970, 05.29 AM IST
The Sensex has gone from one high to another in 2005. It finally ended the year at 9397.93. This year it has gained 42%. Looking ahead Ambareesh Baliga of Karvy Stock Broking thinks that the markets will end 2006 at 10,000 - 10,500 levels. However, he sees some volatility crawling in the market after February.
The Sensex has gone from one high to another in 2005. It finally ended the year at 9397.93. This year it has gained 42%. Looking ahead Ambareesh Baliga of Karvy Stock Broking thinks that the markets will end 2006 at 10,000 - 10,500 levels. However, he sees some volatility crawling in the market after February.
"For 2006, I am looking at around 10,000 - 10,500 levels. It’s a bit early to talk about it. But we see a decent rally up to middle of February and end of February. Then there may be crack and a range bound market. Then again, towards the end of 2006, there could be sort of rally, which will possibly end at 10,000 - 10,500 levels," he says.
On the target for 2006:
For 2006, I am looking at around 10,000 - 10,500 levels. It’s a bit early to talk about it. But we see a decent rally up to middle of February and end of February. Then there may be crack and a range bound market. Then again, towards the end of 2006, there could be sort of rally, which will possibly end at 10,000 - 10,500 levels.
On midcaps:
They had a good year. Looking ahead, January should be good because lots of funds have been raised for midcap and small cap investment.
EXCLUSIVE CALLS from Experts
On Tata Chemicals:
I don’t track it very closely. But the news, which has come in Tata Chemicals , is extremely positive. What I have been hearing on the street is that it will go Rs 50 - 60 up from here over next couple of months.
On Oriental Bank of Commerce and Hindalco:
There is value in both of these banks. Valuation wise, Oriental Bank of Commerce , in particular, is decent. Most of these PSU banks will surely do some sort of catch up with private sector peers. Although there is a major difference between PE’s of both these sectors, there will be some narrowing down over next couple of months, hopefully over next 12 months or so.
Hindalco and even Nalco had underperformed in 2005. But it’s only in last one and a half hour that these have actually caught up. Going ahead, we are still positive on aluminium sector. We see Hindalco going up at least Rs 20 - 25 from here. For Nalco we are looking at a price around Rs 260 - 270.
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