There is no rule built in the market to go about. This is the only reason for the existence of the betting centre’s across the globe on economy and growth, though legally accepted by the Governance participated by the risk lovers be it highly knowledgeable or the highly paid market makers.
The market allows all payers with out distinction or discrimination. This is the reason why the retail flies flock around the burning flame. So the market behaiour is unnatural in its sense while reacting or responding to an event/news but the fact is that is the natural behavior.
The dependence on FII in flow and liquidity is the driving force for the run in the recent past. But the question is the driving force is BLIND?. If so, who are the other players living in the system with ignorance. There is single no bad news highlighted for the last 14-16 days across the globe despite the spiraling crude price, tensions in Libya no good economic scenario in Japan. In India, the heads at RBI started accepted the new norm while failed to control the inflation as “ high inflation in high growth economy is acceptable”.
Now coming to the numbers, the Nifty shorting was initiated after the March expiry and the Nifty has risen 100+ points from there. The retailer is accepting the rise as rise but it was inflated. I am not in the camp that the markets will crumble immediately but definitely touch the 5640 level when it falls below 5850 level. The range established is for the sake of selling but not for the further rise. The Banking sector will get its bone cracked to a level where the yearly lows are challenged very easily. The leaders like SBI shall not trade above 2865-69 level and the ICICI shall not trade above 1140 level.
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