Sensex is up nearly 100 points this morning, Nifty is hovering around 5300. And finally, after waiting long at the sideline and watching other banks to perform, SBI seems to have Broken the shackle. It is past 2300 now. All signs say that it will start a good run.
I bought some SBI at 2019, so finally it will give me some return worth mentioning. And all other banks are just following; Karur Vysya is 470 again and my pet United Bank is 85.50 (already 17% up from my cost price, ha ha).
But picture is not so rosy in Cement Sector. I am always shaky to invest in this sector; however Ultratech Cement has given me very good return over the past 3/4 months. I booked some partial profit, too. But now it is going down very fast. I do not know what to do...buy some more? wait for it to come back? or just exit the stock?
May be it is a good idea to exit and invest in bank or pharma instead.....after all these two are the hot sectors these days. But all good stocks in these two sectors are so expensive already that it is very difficult to enter.
Metal is a bit sluggish these days, but I have confidence on Sesa Goa and SAIL where I have exposure. Both are in marginally green today (after a while) and hope they will come back strong with the market.
