July 18 market analysis

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The Market in past few weeks has been swinging between Bull and Bear territory, although Bears have ruled the market place for some time now. The analysts at stockpm had very intense teleconference today regarding the markets and world economy as a whole. It was concluded from the meeting that there is no new good news in the market. With failures of Banks on the Wall street, failure of Mortgage companies in US, political instability in India and with double digit inflation its pretty difficult to find a sector that will outperform at the Dalal street.

However, even in these dark times, analysts here have a found silver lining. From the conference today, it was concluded that information technology (IT) sector will be the first one recover and real estate markets will be the last one to recover.

Hence, Today's long term buy is Tata Consultancy at 780, 790, 810. Sl 710.
Hold until Nov or Dec. A fall in Indian rupee and increase in outsourcing in US will push this stock higher.

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