As we said in the premarket outlook , markets recovered more than 700 points at one point of time yesterday and with FII started their selling in the last hour we lost nearly 300 points at closing.
Tracking US markets, DOW which went down to nearly 300 points by mid trade given a surprise recovery and closed up more than 4% , There was V shape recovery in indices in last hour of trade.
Asian Markets which opened in positve lost some ground but are in positive leaving SEOUL index which is 1% down.
With the recovery markets made yesterday with the news of inflation easing considerably , we see INDIAN MARKETS to open positive today or may be a gap up of more than 200 points in Sensex , we see markets today gaining in the later half and may close in positive . PSU banks are looking best bet in the current scenario , we like BOI , UBI , SBI , SBH , ANDHRA BANK in this space , we may see selling coming in RANBAXY as the news in the counter is negative .
Overall , we advice members to go long in days market, The bottom for markets is very near and so one can start accumulating blue chips / index stocks for long term , we see sensex at 14000-15000 leves by March 09 .
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