Watch Reliance

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Closely watch the price movement of Reliance. Investchips expects some negative news from Reliance. That news may trigger re-rating of business model of this company. It may sink along with other cyclical commodity companies.
Investchips also have a strong negative view on ICICI Bank. Their credit card business may turn out to be as their huge liability. It also sprung negative surprises in next year. In medium term it would go down.
Private housing financing companies may see pressure on their margins and growth. Better avoid. Past Glory may not help them. Book profit in HDFC. We are positive on Axis Bank. It can be accumulated in declines. It has the potential to give 30-40% annual returns over next 3 years.
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