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as suspected, market have not given the usual bounce back to new highs,
few more reasons to the previous:
1) Interest rate - no respite for us Indians, unlike US where they are waiting for cuts, we are still marching ahead in rise of interest rate.
2) Volatility has increased 10 fold in the past few days
3) FII's have begun selling heavily in futures - 1600cr day before yesterday & 700 cr today + both days the selling was there in cash too... m.funds have been selling as if there were no tomorrow.
4) certain prime stocks have reached their dec lows & few their last may/june lows
5) inflation=market rise...
6) good news for distribution campaign is on...
7) rupee slide is going to affect the IT sector, no ?
Now I ask a question for you guys, How many stocks made new high after may besides our darling IT sector, banks (main contributor SBI) & the ever green RIL, did the stocks which were substituted in the index have a significant impact, YES. even though we have gone 2000 points above may highs ?
so are we in a nicely miraged bear market rally since MAY'06 ?
take care friends... "better to miss another 500/700 points than to bear the brunt" time has come
few more reasons to the previous:
1) Interest rate - no respite for us Indians, unlike US where they are waiting for cuts, we are still marching ahead in rise of interest rate.
2) Volatility has increased 10 fold in the past few days
3) FII's have begun selling heavily in futures - 1600cr day before yesterday & 700 cr today + both days the selling was there in cash too... m.funds have been selling as if there were no tomorrow.
4) certain prime stocks have reached their dec lows & few their last may/june lows
5) inflation=market rise...
6) good news for distribution campaign is on...
7) rupee slide is going to affect the IT sector, no ?
Now I ask a question for you guys, How many stocks made new high after may besides our darling IT sector, banks (main contributor SBI) & the ever green RIL, did the stocks which were substituted in the index have a significant impact, YES. even though we have gone 2000 points above may highs ?
so are we in a nicely miraged bear market rally since MAY'06 ?
take care friends... "better to miss another 500/700 points than to bear the brunt" time has come
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