Key benchmark indices gained for the seventh straight week to scale highest closing level in 28 weeks as latest government data showed that inflation in January eased to a 26-month low. Nifty continues to form higher highs throughout the week and finally closed above 5550 levels.
Foreign institutional investors (FIIs) pumped in another 3500 crores during last week taking total for 2012 to 24,100 crores (till February), as per provisional data from the stock exchanges. The BSE benchmark Sensex was up by 540.70 points or 3.05% for the week to settle at 18289.35 levels. The NSE flagship Nifty ended at 5564.30 levels, up by 182.70 points or 3.40%.
In February 2012 (till February 16), FIIs were net buyers to the tune of 11553 crore, while MFs were net sellers to the tune of 5860 crore.
what is your take now? will it continue till the budget as a pre budget rally and then budget will decide the course or is it just the liquidity driven rally and waiting for a bad international event that will call of the liquidity
ReplyDeleteI think the correction can set in any moment which is impossible to predict when. So I would avoid chasing this rally and wait for correction till at least 5300 before start building position.
ReplyDeleteYes the situation globally has improved but we are not out of woods. So if I had long position taken earlier i would ride half of that further and would book out on half of that....
good
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