FIIs continue to buy...but

The markets are holding above 5180 can always look for a target of 5450 level, to be precise the markets are in bull grip even if the Nifty falls to a level of 4950. The Nifty is holding despite the new highs were touched. But the divergent behaviour of the Nifty stocks is not a good sign for a longer bet. The market is good for buying solong the big boy Reliance trades above 1076 level and ONGC above1205 level.

The very fact that the market is not reacting to news of Individual companies like Bharti but the poring of dollars into India has generated much interest in the market as a whole to scale to 23 month high. The big support being given by investors to the recent IPOs is a good sign, doing well in the market unlike the earlier listings.
The health care especially those are in CRAMS and biotech are being encouraged in yesterday. The reality sector majors will give good early gains for tomorrow but the market is likely to see a correction which is a healthy sign.
The DLF is good above 373 level and HDIL is good above 376 level. The Tata Motors can be shorted with a stoploss at 826 level and Tatapower may see correction to close below 1455. The metals may see some further correction generated and Sesa Goa is no exception.
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FIIs infuse Rs 24,800 cr in stock markets in December quarter--- The Economic Times covered on 3 Jan 2010 about the FII interest in Indian economic growth and in our markets
…In the quarter under review, December attracted the highest inflow of Rs 10,233.1 crore($2.1 billion), followed by October (Rs 9,077 crore) and November (5,497 crore)….

…FII investment of Rs 83,420 crore in 2009 is the highest ever inflow in the country in rupee terms in a single year and comes a year after they pulled out over Rs 50,000 crore. …The inflow in 2009 broke the previous high of Rs 71,486 crore parked by foreign fund houses in domestic equities in 2007. …Interestingly, the whopping inflow by FIIs into the local stock markets has alarmed the government and other authorities concerned….

The markets are holding above 5180 can always look for a target of 5450 level, to be precise the markets are in bull grip even if the Nifty falls to a level of 4950. The Nifty is holding despite the new highs were touched. But the divergent behaviour of the Nifty stocks is not a good sign for a longer bet. The market is good for buying solong the big boy Reliance trades above 1076 level and ONGC above1205 level.