While the bullish rally of Nifty hitting lifetime high 6700 is welcome, and it has given good profits on long-positions on beaten down stocks like SBI, DLF, etc, the concern is that Nifty is now rising while momentum is falling, and the momentum of the current rally is still lower than the momentum of Nifty rally in Sep 2013. Life time high with lower-grade momentum is not a good sign. Conclusion: unless momentum picks up in April, Nifty may come down to 6300 in April.
Mumbai, March 10, 2014: L&T Construction has won new orders worth Rs. 2935 crores (INR 29.35 billion) across various business segments in February and March 2014.
In the Transportation Infrastructure Business, new orders worth Rs. 1035 Crores have been won. A major EPC order has been received from Rail Vikas Nigam for construction of roadbed, major and minor bridges, track linking, outdoor signaling and electrical works in connection with doubling of Sambalpur-Barpali, Barpali-Bolangir, Bolangir-Titalgarh sections as part of Sambalpur-Titalgarh doubling of East coast Railway project in Odisha state. Continue reading L&T Construction secures orders valued 29.35 Billion INR
Reliance Capital has started Nifty ETF from Nov 2013, and the adoption is still catching up. This ETF is 1/100 unit of the Nifty index. So at Nifty 6000, the ETF will be at 60.
Stock Name: R SHARES NIFTY ETF (or Rel Nifty ETF)
ICICI Direct code = RELET2
Reliance Mutual Fund appears to be maintaining liquidity in this ETF to enable investor adoption, which is good. As the liquidity is not high yet, this ETF is best suited for investors who want to buy 100-500 ETF shares per purchase, and hold them for over a year. This ETF is not yet suitable for trading, however, it could be ready in 6-12 months. As of now, Nifty trading is best done via Nifty futures. Continue reading Reliance Nifty ETF