The Nifty is looking really weak the support level of 6138 -6118 if taken out then we shall it heading to 5950 level next. The major stocks which make the nifty component have crossed or near the 200 DMA. This is the last line which if taken out then the return to the highs seen will take some time to achieve. The rupee to is drifting down deep into the 63 level….the only thing which could see the reversal happening is what is in store with the policy announcement of the RBI governor. He will in all probability leave the rates untouched. But if he too does tinker with the rates upwards then all is sunk. There will no sector untouched may be for IT and Pharma to some extent.
The country club Index of SGX is now giving a gloomy picture but then the only silver lining is that the DOW is slightly going up, then how long will it hold before being carried away with the correction wave which is heading towards all global market.
The country club Index of SGX is now giving a gloomy picture but then the only silver lining is that the DOW is slightly going up, then how long will it hold before being carried away with the correction wave which is heading towards all global market.