The markets have corrected, though one could say ‘not enough’ but unlikely to leave the safet of 5400 on the Nifty and probably not close the series above 18000 either. If you can please sell a couple of 5400 Nifty / 10600 anknifty puts even now as the markets are stable.
Orchid Chem is back at 112 and Bank nifty finally responded ot its own steam oonly an hour after the wires spoke of Chids approving 49% FDI in insurance and Pensions and that is up for 24% earlier, helping investors like Mitsubishi, Standard Life and Prudential who are part of successful insurance ops and would like to contribute Cappital to their India operations to partake of the renewed vigour in those investment markets.
European Markets are correct ith the Euro still atabove 1.2468 achieved yesterday but that is just a matter of time. Today’s post equity currency session till 5 may thus see a resurgence of the Dollar in which case Crude could cap out at $96/$116 levels Natural Gas realisations and scrips like GAIL and Petronet LNG are down consequently
Tata Motors’ new portfolio of cars seems like something to start a new slate with and Infosys similarily is trying to capitalise strategically on the market recovery extending its shelf life with substitution fronm others where profits are likely to be booked. It may not have worked except that the fewer corrections and a healthy move in the markets looks like the lasting move to 6000 than anything else and you could probably choose any secotr or market as long as the India growth story does recover later