As expected if the UPA would come back markets had to rally. Most of the stocks rallied. ADAG stocks rallied an average of 15%. Larsen BHEL DLF. Alot of mid caps were really god. Power grid did 104. My next target is 118 stoploss close below 98.
What worries me, this rally or pull back to be clear will not sustain for long. The movement would be very sector specific and banks and power stocks would be the focus. Larsen, BHEL, NTPC, and many many more stocks have a huge gap. The gaps would definately be filled in coming days. The question is when? so be prepared to see panic again.
Reliance communications may go up further 7-10% but at the same time would be little risky. Alstom, Areva, Power grid, NTPC would still be safer bet as of now.
Crude has cooled off alot and near 125$. Close below 129 this was expected. A very stong support at 118. If reverses then we will see equity markets getting beaten up again.
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