Sunday, October 30, 2016

Happy Diwali

The correction in the markets seems to be ending. Diwali is here and the markets look to bounce.

1. The Tatas fight has dampened the sentiment. That was 1 of the main reasons markets corrected.
2. The bottom should be in place or 100 200 points away but a rally of 1000 points on the Nifty is due.
3. Clinton seems to be winning and that will have a positive effect on the markets, a Trump  win would lead to a disarray as markets do not like move away from status quo.
4. Diwali sales seem to be good and that is a sign of economic turnaround.
5. Nifty bounced from the support zone of 8550. I think the next move would be post the US elections.Enjoy a safe and happy Diwali.

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