On Friday, though the Indian Stock market registered handsome gains, but US markets ended in negative territory. Dow Jones lost 35.71 points (0.27 %), while Nasdaq fell by 20.83 points (0.70 %). Most of the Asian markets are curently trading in negative teritory. Apart from Nikkei (Japan) and Shanghai Composite (China), all other Asian Markets are down. Hang Seng (Hong Kong) is down by 0.24 %, Straits Times (Singapore) is down by 0.10 %, Kospi (Korea) is down by 0.28 % and Taiwan Weighted (Taiwan) is trading 0.84 % lower.
Now, the big question is whether Indian Stocks will further extend its gain today or taking cue from the Global market will be under pressure. There is no denying the fact that there is a lot of steam left in the Indian market. Most of the broking house are also very positive about Indian stock. Though RBI is not likely to go for a rate cut tomorrow, but an easing inflation data has it created hopes that the Reserve Bank of India will move towards easing interest rates starting early next year. Moreover recent announcement by the government in favor a slew of steps towards reform will certainly keep the market sentiment high.
Thus in this scenario, market under most likelihood will be in green zone today. Much movement in market is not expected in the market and it will be range bound. But this is not the time to take long position as the market has considerably moved up in last few months. So buy in dip and sell when there is an upward movement today.
Now, the big question is whether Indian Stocks will further extend its gain today or taking cue from the Global market will be under pressure. There is no denying the fact that there is a lot of steam left in the Indian market. Most of the broking house are also very positive about Indian stock. Though RBI is not likely to go for a rate cut tomorrow, but an easing inflation data has it created hopes that the Reserve Bank of India will move towards easing interest rates starting early next year. Moreover recent announcement by the government in favor a slew of steps towards reform will certainly keep the market sentiment high.
Thus in this scenario, market under most likelihood will be in green zone today. Much movement in market is not expected in the market and it will be range bound. But this is not the time to take long position as the market has considerably moved up in last few months. So buy in dip and sell when there is an upward movement today.
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