By krsna Khandelwal – A veteran market analyst
Friends,
RUCHISOYA @403 (02/08/07) gets 921 points and better to sell it for time being, however you may buy it on substantial correction.
HONAUT @1754 (02/08/07) gets 780 points and should be sold off now and bought back at lower rate.
ASIANPAINT @882 (02/08/07) gets 843 points and sell it now to pick up later.
MIRCELECTR @17 (02/08/07) gets 875 points and may be bought on declines.
BHEL @1702 (02/08/07) gets 745 points and it is risky to hold it at this level.
SUNFLAG @14 (02/08/07) gets 913 points and should be bought on declines for long term.
NFL @30 (02/08/07) gets 920 points and should be bought on declines.
CAIRN @142 (02/08/07) gets 710 points and should be sold for picking back at lower rates.
JINDALSTEL @4054 (02/08/07) gets 1186 points and may be bought on declines.
JKTYRE @152 (02/08/07) gets 1030 points and should be bought right away for medium term.
KALPATPOWR @1449 (02/08/07) gets 790 points and should be sold now for later buy back at lower rates.
ABIRLANUVO @1374 (02/08/07) gets 850 points and it may be bought on declines and stoploss should remain in place.
INDIAGLYCO @164 (02/08/07) gets 1352 points and is ok for purchase.
MOTHERSUMI @129 (02/08/07) gets 1148 points is also ok for purchase on declines.
Car sales have inched up by 12.72 % for the industry as a whole while TM and Hyundai have suffer lower sales and M&M and MARUTI improved sales over the corresponding month of last year. Medium and Heavy Vehicle segment has been poorer too, TM have suffered sales loss of 11% over the corresponding July month of 2006,their market share is down by 5%.
With the Olympics related work in China almost over,it may be in a position to start exporting heavy machinery and earth moving equipments in a big way. This possibility places our companies in these sectors in very vulnerable position. The market however seems oblivious of this and this is dangerous for this sector as it is keeping the flag high of leading indices like Sensex and Nifty.The Sensex PE ratio is at high end still at 21.04 while Nifty’s is a shade lower at 20.15. These are very high levels of discounting after a continuous run for four years in a single upward direction.I hope you catch the meaning and import of this.
Hari Om
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