Thursday, January 08, 2015

Today the Indian markets bounced back as expected. Nifty which corrected ~380 points or around 4.5% from the recent high of 8445 within three trading days, was looking for a bounce; as per prevailing data. Moreover, Nifty reached the crucial support area of 8000 from where a reversal of trend seemed imminent, especially after yesterday's FII and DII data. 

Today, also though the FIIs went for selling of Rs.466.78 Cr of Indian equities but the Nifty closed in the Green at 8234.60 (up by a massive 132.50 points).  Meanwhile, the Indian markets are witnessing relentless buying from the DIIs and Local Investors, which is probably able to absorb the FII sell figures. What the government of India has now to do is to bring in attractive schemes so that more and more retail investors joins the equity fold. In this way the Indian markets will gain more stability and become less dependent on the "Casino-like-FII-money". 
Today my recommended Pipavav Defence Ltd touched Rs.53 intra-day before closing at Rs.52.65, up by a massive 18.18%. The stock thus met, all my short term targets.
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