Stocks might move in a range between 8500 to 10,200 in February. I do not expect Sensex to move below 8200 in Feb. ITC, Cipla, Zee might outperform. Mid-caps might also perform well in expectation of Futures Lot Size change effect in March 2009.
Buy on Dips would work well rather on buy on gap up openings !
Gold has rallied smartly and i dont think it can sustain above 940 USD over a period of time. It might be able to hold these rates due to Institutional support rather than strong demand in retail shops.
Watch out for Emerging markets trend - I feel China, Korea stocks are not falling much and able to hold on despite bad sentiment in USA. Whether India would join them is the key question to be answered over next 3 months....
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