|Market This Week
||WOW!! congratulations to all of you! Our recommendations rocketed last week. Nifty closed at almost 5700 mark last week surpassing the old 52 week high. Heavy volumes were seen in all the counters. Infrastructure, metal, banking and other midcap had heavy participation. The government finally took a positive step towards reforms and its announcement of tax reductions which were targeted at the FII’s saw heavy inflows coming from them. It is become attractive now for the foreign banks to buy indian loans and also finance indian corporates. If the reforms continue, the NIFTY would see 5800-6000 soon.Last week the rally was also fueled by SHORT covering. The F&O data now shows that there are a lot of LONG’s being created. This week, However before the next move, there could be some profit booking due to rollovers. The market would breathe and would take one step backward to move two steps forward. Thats how the markets always move! very much human. This week, the market would remain flat and the NIFTY might see some downward moves. With the policy paralysis prevailing in china, the indian stock markets are looking very attractive.Note: History has continued. The retail investor had no clue what happened last week and he has missed the rally. We are happy for all our clients who participated in the rally. A gain of 20% in a week is just awesome!! Cheers!!