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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (5865)	8/25/1999 11:03:00 PM
From: Mohan Marette	Respond to of 12475

Market Forecasts for 26 Aug 1999 I feel the market will continue to remain subdued till clarity emerges. `As the Sensex touched the new high, the market reacted very sharply to the rumours of the emerging of a scam involving some of the big players of the market, who are largely responsible for the spurt of the Sensex. As it normally happens, the rumours could have been spread by the bear operators with huge short positions wanting to get out before the Sensex crossing 5000-level. The market will continue to be in the confused state till the rumours are clarified. The undertone of the market is still firm. I feel the market will continue to remain subdued till clarity emerges,' - Ketan Desai, portfolio manager, Asit C Mehta Investment Intermediaries ------------------------------------------------------------ I feel that the Sensex may move in a trading zone till the elections now. The markets panicked amidst the rumours of possibility of the making of another securities scam involving a leading bull operator and a leading institution. Since the market has been overheated, the rumours spread very fast and nobody waits for the confirmation. It might be possible that some bear operator could have spread rumours to liquidate his positions. Given the disturbed sentiment, there has been a cap on the upside of the Sensex from now. I feel that the Sensex may move in a trading zone till the elections now.' - Rajeev Gala, dealer, Mafatlal Securities ---------------------------------------------------------------- Markets are expected to open weak It was a technical correction. Markets are expected to open weak but would recover later in the day '. - Gul Teckchandani, chief investment officer, SUN F&C AMC: --------------------------------------------------------------- Markets would move horizontally till elections. Market was quite overheated and correction was required. And markets reacted sharply to the rumours, bringing in the much needed correction. Markets would move horizontally till elections. And with economic recovery factor being discounted, any uptake in the market would require a fresh dose of positive factors'. - Vivek Mavani, equity analyst, Parag Parikh Financial Services: (courtesy:CapitalMarket)