![]() Slump: A good time to buyPublished on Tue, Dec 19, 2006 at 14:00 | Source : Moneycontrol.com Updated at Tue, Dec 19, 2006 at 16:00
Markets have slipped into red on account of heavy selling pressure in scrips across sectors. The Asian cues are extremely negative with Thai stocks plunging after the Bank of Thailand announced capital control measures which penalises investors who pull out money within one year. This has triggered declines emerging markets across Asia.
Comments Deven Choksey of KR Choksey Securities, "As of now, profit booking at the higher levels and buying at the lower levels is expected to continue. Traders normally go short when they don't find the clear trend. I think the short story would also lead to some kind of an upside - otherwise fundamentals stay strong." Choksey places his bet on stocks such as SBI and Tata Motors , "Selectively, we are looking at opportunities and we are picking up stocks in this market. In the falling market, investment ideas like SBI look quite interesting for us even Tata Motors for that matter. Some of the quality midcaps are looking quite interesting for buying as far as the market prices are concerned.
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