The Markets bounced back to close the week up at 3.1 pc over the previous close. The Government came up with Reforms at the end of the week in the Oil and Gas space to give further leg up to the markets.
1. India's Current Account Deficit (CAD) or the difference in Dollars between our Imports and Exports came down to 3.6 pc for the January to March period leading to the rally on Thursday.
2. On Thursday, evening the Government doubled the Gas Price to 8.4 USD from April 2014.This will give more incentive to invest in Oil Exploration leading to less imports.
3. On Friday evening, the Goverment hiked the Petrol prices. Thus, 3 set of good news from the Stock Market perspective came from the Government.
4. Gold prices continued to tank and it is a safe bet to stay away from Gold for some more months to come.
5. Technically, a pullback was due with the targets of 5819, 5897 and 5975. Above 6000, this rally could mean something more.
6. The previous falling leg from 5864 has also been nearly retraced in much faster time.
7. The FIIs on Friday finally made stock purchases after selling for several weeks. Sustained buying from the FIIs will lead to fresh rallies.
8. The Strategy remains to part book profits at 5900-6000 levels if bought at lower levels and see if the Idex sustains above 6000.
Till the index closes above 6000 for 2-3 sessions, this will remain just a pull back rally and nothing more.
1. India's Current Account Deficit (CAD) or the difference in Dollars between our Imports and Exports came down to 3.6 pc for the January to March period leading to the rally on Thursday.
2. On Thursday, evening the Government doubled the Gas Price to 8.4 USD from April 2014.This will give more incentive to invest in Oil Exploration leading to less imports.
3. On Friday evening, the Goverment hiked the Petrol prices. Thus, 3 set of good news from the Stock Market perspective came from the Government.
4. Gold prices continued to tank and it is a safe bet to stay away from Gold for some more months to come.
5. Technically, a pullback was due with the targets of 5819, 5897 and 5975. Above 6000, this rally could mean something more.
6. The previous falling leg from 5864 has also been nearly retraced in much faster time.
7. The FIIs on Friday finally made stock purchases after selling for several weeks. Sustained buying from the FIIs will lead to fresh rallies.
8. The Strategy remains to part book profits at 5900-6000 levels if bought at lower levels and see if the Idex sustains above 6000.
Till the index closes above 6000 for 2-3 sessions, this will remain just a pull back rally and nothing more.
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