Anand Tandon, Director Equities, Brics Securities, said one should take some money off the table if 14,500 on the Sensex hits, “because no matter what, the fact to the matter is that at some stage there are other factors other than just liquidity and euphoria which come in play.”

Q: What is your range?

A: I think 15,000 or 14,500, which is what we are reading, will very much happen in the course of this week.

Q: 14,500 looks like it is going to happen this morning the way it is going – how do you approach it now?
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A: Well if it does happen, like I said, I would take some money off the table because no matter what the fact to the matter is that at some stage there are other factors other than just liquidity and euphoria which come in play. One will make some part of the upside from then on. Frankly, I do not think it will happen just yet. It will take couple of days because one needs to get the money into the system. It opened up some much that you are already invested in it. Nobody fresh could have got in even half a trade in. So until and unless the money actually comes in and people do get invested I think one would find that there has to be some trading which will allow one to do that.

Q: The same question before the market opens – at 14,500 which is your target for this week would you take profits and do you think 10,000 will be revisited at any point in 2009?

A: It is always difficult to put a target because it depends on what else has gone in between but if it happens in this week I would certainly put a target. I think yes 10,000 would be revisited except that it is again that the events will unfold in manners, which are not something that one can foresee today. There has to be some out-of-the-box event that will drive it down.

Source : MoneyControl

Tags: brics secutrities, bseindia, bull market, hot stocks, market outlook, profits, sensex india, sensex jumps

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