Buyers ought to be happy now

With the much awaited correction setting in buyers ought to be happy now. Consolidation in the markets indicates that strong hands are getting in and weak hands are getting out. While I can neither predict index levels nor time frames, I would be a buyer on all dips in specific stocks. IDFC at 140, Larsen at 1550 ( if at all), Reliance at 900, HDFC bank at 1600.

Food prices are touching new highs, interest rates are likely to go up, days of easy money will be short lived. This is good news for genuine buyers of equities because speculation could be curbed.
Extended trading hours means long working hours for those who participate in operational activities of the market. I wonder how this will help the retail investor. We will get to hear more ill informed advice from the TV channels for longer duration.

Long term charts indicate good future for Indian markets. So we stay invested till weekly charts tell us otherwise. One could book partial profits if cash is required for festivities this winter.

rgds
Vibhas