Hello everyone, Monsoons are not as expected. Markets are riding high on the Modi wave and high expectations. Poor Monsoons might effect Markets, and tone down the BullRun a bit. But, the long term trends continue to be good with the world recovering and political stability and good factory results in India. Now, let us come for today. Markets fell on profit taking ahead of F&O expiry tomorrow ie Thursday. The Markets will move according to the expiry of contracts tomorrow.
According to Sanju Verma of Violet Arc Global Managers the Nifty will rally to 8000 post budget. But, fears also persist on Iraq trouble. Iraq being the second largest oil producer in the world might squeeze supplies. India, being a huge importer of oil might be effected by the Current Account Deficit increasing. So, Markets are balancing themselves between two conditions of good and bad.
Auto Stocks, gained after Finance Minister said lower Excise duty will be levied for Auto and Capital goods.I think one should trade by looking at the performance of individual stocks. Good time for trading as Markets are moving in both up and down direction. HAPPY TRADING AND INVESTING.
