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27 Mar 2009

Future Direction of Indian Stock Market in Short Term


1. Indian stock market namely Nifty has consolidated around 2800-2900 and now it has shown a breakout above 2830. The point to note here is that if Nifty closes above the level of 3150 on closing basis than a rally in the bear market will be seen which can propel Nifty to the levels of 3500 and beyond.

2. This upswing in Nifty will get a booster dose if one will see a qualitative improvement in the companies result for the quarter ending Mar 2009. Thus as a strategy one can buy in the market in corrections provided the level of Nifty 2900 is maintained on the closing basis as a stop loss and market is able to move above the level of Nifty 3170.

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