The Nifty raced up today, an again it is stuck at the critical level of 6572, now why is that the question when Bank nifty has reached its zenith, and still trying to go up.There will be a pull back soon enough if it does not cross this level convincingly.Be very wary of this pull back.The markets are not easy as it seems, it is very volatile and it will increase as it goes towards the closing.Expiry, every hopes it will be above 6500 then one really has to see it where it will be.
The news is that the local Bulls will be pulling back from this rally soon enough. Then it has to be sustained by the FII's who are fickle minded. And will easily switch away from the market once it finds out there is a waning interest during the voting period, and also with the global uncertainities looming ahead. The situation in Ukraine is still something which can go either way.The chances are for an increase in escalation, than seeing a solution in the near future.
The Chinese PMI has come out the lowest in 8 months.The Hangseng and the Shanghai markets celebrated it with the wishful thinking that the Chinese will introduce some form of easement. That will not happen, the chinese will let the market take it's course. They will not risk their banking system or allow the financial markets take a hit, nor will they risk the real estate market becoming a big bubble.The result is we shall see a correction coming up soon.
The news is that the local Bulls will be pulling back from this rally soon enough. Then it has to be sustained by the FII's who are fickle minded. And will easily switch away from the market once it finds out there is a waning interest during the voting period, and also with the global uncertainities looming ahead. The situation in Ukraine is still something which can go either way.The chances are for an increase in escalation, than seeing a solution in the near future.
The Chinese PMI has come out the lowest in 8 months.The Hangseng and the Shanghai markets celebrated it with the wishful thinking that the Chinese will introduce some form of easement. That will not happen, the chinese will let the market take it's course. They will not risk their banking system or allow the financial markets take a hit, nor will they risk the real estate market becoming a big bubble.The result is we shall see a correction coming up soon.