Market clear direction and Moving Sideways.

Dear Investors,

The market is looking for a clear direction and moving sideways.
The market is also trading with very low turnover.

There is a mixed view among people on the near term movement of the indices.

But it is clear that, at current levels or at declines, only large caps need to be bought at this stage (L&T, Reliance, JPA, BHEL, ICICI Bank, HDFC Bank).
Positive on: Banks, Infrastructure, Power ancillaries, Telecom

Negative on: Power generation, Real estate, IT, Pharma

The IPO market is lacklustre at present. Grey market premiums are nearly wiped out. Research has not recommended a 'Subscribe' on any of the recent IPOs.

Having said that long-term investors can pick up top quality stocks at lower levels.