5 ideal bets for Muhurat session: Nirmal Bang

Nirmal Bang has come out with its report on "Diwali Mahurat Picks". The research firm have listed NIIT Technologies, Delta Corp, Infinite Computers, Madras Cement and IndusInd Bank as ideal bets for the Moorat session in its report dated November 12, 2012.

Post the announcement of long-pending reforms announced in September, the Indian markets moved up sharply, also aided by the ECB’s move coupled with the announcement of a QE 3 by the US Fed.

Over the last three weeks, the markets have used the quarterly result season as an excuse for consolidation (correction).

In the near future, it is distinctly possible that the twin problems of the US fiscal cliff (which is coming up early January) and news referring to the potential for economic slowdown in Germany (Euro-zone crisis) will be back on centre-stage.

However, we believe that these problems will be addressed when the time comes. Also, these problems are not going to make the world come to an end.

As regards Indian markets, our belief is that sooner, rather than later, (some more correction can occur), we will make one more attempt to go towards the 6000 mark on the Nifty, largely on hopes that the PM-FM team will announce some big-bang measures for kickstarting the investment cycle, which, otherwise, has come to a complete standstill since 2008.

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