Markets were marginally down today Nifty by 5 points at 9886 and sensex by 6 points at 32020. This week ie yesterday being Thursday the 13th July sensex reached 32000 the lifetime high . There has been a correction in food prices, that is why the market is going up. The feel good factor in the market does not seem to be good. It is said that Ola drivers are doing intra day trading in the exchanges. Usually drivers are not a knowledgeable lot so if they involve in trading it is not a good sign.
Valuations seem to be high, so it is better to sell shares at a profit and keep minimum stocks. It is better to have more cash in hand now in this over heated market. GST seems to be doing good for the stock market as stocks have risen and profits have been made in stocks. The first quarterly results of TCS has been bad but Infosys did well. The quarterly results of companies are to be seen now, to gauge the markets well. Politically conditions are good accept that of China, which India is dealing well. There are expectations that China will not declare a full scale conflict as they do not want to disturb their trade. Institutions are investing in stocks in a big way, mutual funds are getting big money. So, one has to be careful as heavy inflow must not drop.
