Agreed and thank you. Here is my post about dollar terms previously which few people here quite conveniently avoided.
This was sometime mid june where I said nifty has corrected quite similar to the other world markets in dollar terms here is that post.
This was sometime mid june where I said nifty has corrected quite similar to the other world markets in dollar terms here is that post.
Now look at this how many people follow this index. I do follow it but never realised the extent of correction. The Nifty in dollar terms recently fell 17% from the peak rather than 11% on the actual index. Now this makes an interesting read because FIIs and mostly outside investors care about dollar terms. The Defty almost touched feb lows similar to the dow and consistent to the Dow hitting 9800 which means it wasnt worth the FIIs to sell at these levels in the market I mean when Nifty was around 5000 levels but the value in dollar term was much lower so if FIIs had sold Nifty at that point they would have lost both ways lost money on the Ruppee and on the market. I hope you get my logic here.
All were feeling good in morning, I am sure many will think bearish now. Though NF is at the same level as yesterday's closing!
