Re: Sensex TECHNICALS
hi sudoku,
First the FM, was uncomfortable with the "Strengthening rupee and rise in the equity markets," so they blocked PNotes, and the govt. now wants to flow the market with liquidity. ECBs and Institutions (charitable trust, educational trust, etc.) can now participate in the markets by registering as fii... And to curb inflation, govt may not increase the fuel prices as that will make their "political life" miserable. I expect govt. will reduce the custom/excise duty on fuels, thereby reducing the losses to petro companies and preventing commodity price rise. Strong dollar also makes india a good investment destination for near term (say six months to a year). Fuel is also showing a fall.
So, I'm bullish on Sensex, and OUR TITANIC will soon rise above the water level and sail... 18000 is near!