Power struggle on the bourses

Power struggle on the bourses
Hopes of a run-up ahead of the Reliance Power listing were dashed as markets across the world were in turmoil. Some markets which were closed emerged lucky. Dalal Street was no exception. Things got worse on Thursday after the release of FY08 GDP data, which indicated some slowdown. The withdrawal of IPOs by Emmar MGF and Wockhardt Hospitals only confirms the weakness in sentiment. A Manic Monday lies in store as the largest IPO Reliance Power gets listed on the bourses. Bulls have only one line to say," Let there be light."

A lower opening would provide an opportunity to pick up strong fundamental stocks at cheap prices. Among our picks for buying at lower levels for the long term are:
RIL, IOC, BHEL, L&T, Axis Bank