Anybody knows what is happening in the market?

3600! Still counting.Where are those TV advisers who wanted us to "Average" down the price? Now it is clear that they are no experts. Not even our finance minster, SEBI Chairman and RBI Chief!!! They are either busy with reversing previous policy measures or announcing Adhoc rate cuts. One day they wanted to bring down inflation and the very next week they wanted to increase the money supply. Surprising thing is that they still have learned audience, and the show is going on. Present market condition is due to delivery based selling of cash strapped FIIs and weak global cues.

Fear dominates market. Every week, market is making a new bottom which is a clear bearish sign. When FIIs are selling, no technical level would hold. Still some FII are saidto be begging to offload their Reliance share for a 10% discount to market price. Rupee also making new lows everyday. It adds salt to the wounds of FII.Today market may open with some negative gap and then slowly started to move up. It may be short lived. As crude trade below $90,Global sell off may not last long. I advice investors to take exposure in Gold ( ETFs) @ about 10-20 % of their portfolio. You can invest as little as Rs.600 per unit (1 unit approx. equals to half a gram) in NSE.
I don't wish to do the futile exercise of predicting today's market range.

Long live Indian Equity Investors.

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