On 27th july for Dowjones it was said that a closing above 13113 will make it further strong, last day it closed at 13117 and today it almost gave a upside of 100 points where so far it made high of 13216.
Most of the time Levels do Work.
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Most of the time Levels do Work.
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2. Deteriorating fundamentals of Indian Economy (evident from result season)
3. Only a handful of stocks rising ( namely HUL,ITC and now RIL). pOOR MARKET BREADTH.
4. Poor Monsoon ( Interesting Fact:Equities have outperformed in the year of bad monsoon in the last decade). But latest reports show that Monsoon activity has picked up post July '12.Certainly not a reason to SHORT.
Do you think in such a situation Equity market can give superior returns??? Well, only if you are holding select stocks. Of course NOT, if you are holding Bhartis, SBI, HDILs etc..
So Enjoy till the point global Liquidity or so called FII's are pouring in money into our market. Enjoy the Ride. But people are questioning the identity of these FIIs. Why?
Coz they keep downgrading India every now and then and term Indian Markets as expensive on the Biz channels.
I don't mean to encourage people to start SHORTING....certainly not against the trend. But 5385 need to be conquered for Bulls very soon. For bears, 5260 is what they will be aiming to take out. For a investor, keep buying dips and good businesses( criteria still remains low D/E, high dividend yield).
You will be rewarded sooner than Later.