Thursday, April 30, 2015
DO YOU KNOW?
Buying was witnessed across the board, yesterday and despite a negative close, advance/decline ratio remained Positive at 4:3 with Small-cap index and Bank Index closing in the green.
Also, Crude oil closed at $58.58 with a gain of $1.52 yesterday. It made a new 4 month high of $59.33 after trading sideways for 7 trading sessions. Crude had crossed the supply level of $55 few days back. The next supply level is $65--thus the Bulls have good room for appreciation.
This gives the Bulls enough ammunition to invest in the small cap space. Accumulate Veer Energy and Infrastructure Ltd (Rs.3.19) and Hindustan Oil Exploration Ltd (Rs.38.50) in view of the positive development in the crude oil front.