Business Ideas

Market outlook: Bulls to remain in command

To win without risk is to triumph without glory. Risk appetite seems to be alive and kicking despite a brief scare that was sparked by the Dubai debt crisis. Experts feel the crisis over the Dubai World debt default is not as serious as feared initially and will be mostly contained. Moser Baer (BUY, CMP Rs83, Target Rs90): On Tuesday, the stock gave a bullish breakout by bouncing off sharply from its 200-DMA of Rs78. The immediate reaction took the stock towards the high of the day. Volumes have shown a smart increase in the past few sessions, which suggests accumulation at lower levels. A bullish candlestick on Tuesday further validates our argument of a short-term bounce in the stock. Traders can buy the stock at current levels and on declines up to the levels of Rs81 for target of Rs89 and Rs90. It is advisable to maintain a stop loss of Rs78. (Source: India Infoline)

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