Markets were down today the sensex down by 47 points, touching 29927 and the Nifty was down by 3 points touching 9262. The markets went down today due to a Bull fatigue during the past few days. The sensex, had touched 30000 a high after a few years and it came down today in the early morning trades, later it recovered due to the RBI policy which remain unchanged and markets recovered due to short covering.
Banking shares will do well due to the surplus finance available with banks. The monsoon is playing truant which is effecting production in many factories. Bad monsoon, is not a localised factor but will have an impact all over, Grasim is getting the rayon grade pulp from Canada which is a serious thing. Stocks connected to agriculture should be avoided as rains are not there, thereby effecting the purchase of Agricultural implements and tractors. As of now Industrial demand is up as consumption story is intact due to the rise in service sector. In India as many people are not investing in Stock Markets the impact is very less due to bad monsoons.One should start booking profits and enter at lower levels.
HAPPY TRADING & INVESTING.
