AW10, Nimish, Raunak, Rajputz,
I agree my views are very short term. As a med & Long term I am also bearish, and have been for the last one month, I could not believe that we are continuously going up, when global indices are correcting.
In the short term, India is bullish
1. Because Corporate earnings are very good.
2. Advance Tax figures are very good.
3. Excellent IIP data, one of the highest in the world.
4. Excellent GDP data.
5. Oil pricing reforms
6. FDI investment reforms.
7. PSU disinvestments
these being so good the negative that the market is so far ignoring, do not know how long.
1. Double digit inflation, to go up further more due to fuel price hike. infact, we are one of the countries with the highest inflation figures.
2. Already one of the highest bank interest rates in the world, which is likely to hiked soon to cap inflation.
3. Global Economic crisis, and global market bearish.
Even today, our markets held the support level of 5250 very well, there was excellent buying coming at that level. Today had we considered the global cues we should have gone below 5200 and taken support at 5180.
For reason mentioned by AW10, the fund managers are operating some stocks and holding the nifty well. The stocks normally used are ITC, RIL, INfosys, DLF, hindustan Uniliver, ICICI Bank, Axis Bank, SBI & the large PSU like Ongc, BHEL etc Yesterday was infosys, ITC, Neyveli, today was RIL, Lever. etc
Tomorrow, donot know how they are going to hold 5200, or pull the indices back to 5300.
Cheers,
Prem Kumar
I agree my views are very short term. As a med & Long term I am also bearish, and have been for the last one month, I could not believe that we are continuously going up, when global indices are correcting.
In the short term, India is bullish
1. Because Corporate earnings are very good.
2. Advance Tax figures are very good.
3. Excellent IIP data, one of the highest in the world.
4. Excellent GDP data.
5. Oil pricing reforms
6. FDI investment reforms.
7. PSU disinvestments
these being so good the negative that the market is so far ignoring, do not know how long.
1. Double digit inflation, to go up further more due to fuel price hike. infact, we are one of the countries with the highest inflation figures.
2. Already one of the highest bank interest rates in the world, which is likely to hiked soon to cap inflation.
3. Global Economic crisis, and global market bearish.
Even today, our markets held the support level of 5250 very well, there was excellent buying coming at that level. Today had we considered the global cues we should have gone below 5200 and taken support at 5180.
For reason mentioned by AW10, the fund managers are operating some stocks and holding the nifty well. The stocks normally used are ITC, RIL, INfosys, DLF, hindustan Uniliver, ICICI Bank, Axis Bank, SBI & the large PSU like Ongc, BHEL etc Yesterday was infosys, ITC, Neyveli, today was RIL, Lever. etc
Tomorrow, donot know how they are going to hold 5200, or pull the indices back to 5300.
Cheers,
Prem Kumar