Hi Savant,
1038 Cr is the net sell figure by the FII for the week They are getting more and more aggressive on the sell side. All emerging markets are facing the same pull out. So far DII and other (+ 1263 cr) are buying them out and managed to end the week in a positive.
It was the opposite way round the previous week. So the FII's play the Bull one week, reverse position the next week and the DII's balance out their act by taking up the opposite position. We all know that the DII's have missed the rally and sitting on plenty of cash. The PSU Banks are flush with cash. Look at the BankNifty.
It looks like a tug of war between FII's and the DII's decide the fate of the Indian market for the days to come. It seems they want to proove who is the Boss ?
There appears to be hint of the edge for the DII's. Another heavy correction is due and the Indian markert appears to be headed in more independant direction with utmost disregard to the diatribes of FIRANGI's in some channels playing 20-20.
Our economics does not depend so much on the GORAs any more. We dont depend on exports to survive. Morethan 60 % of the produce is for domestic consumption. Gone are the days when gold bullions had to be sold by Chandrashekhar to raise foreign exchange. yes ! Oil imports do remain a big burden on us.
Looks like your prophecy of new highs irrespeitive of western markets are due after budget and correction looking at these indicators.
Wishes,
Lancer.