Thanks to the Satyam saga, Nortel Bankruptcy filing, poor Earning season results, our Indian Stock Market continued its downward journey. BSE Sensex lost 0.88% or 82.88 points and NSE gave away 1.55% or 44.55 points.
As usual FIIs are continuously selling and the domestic institutions are sitting aside and watching the downfall. Inflation numbers were at 11 month low of 5.24% from 5.91% of last week. Crude oil now around $35 per barrel is loosing its shine and is expected to fall due to reduction in demand and consumption. Expectations for IIP numbers were very low and infact negative but they turned our reasonably well at 2.4% against 4.5% a year ago. Earning season reporting has started but we have not seen any positive signals.
We are expecting market to crack big time this week or early next week. Be very cautious in your long position.
Last but not the least, after serving you all with our free services for more than 3 years now, we are moving ahead to start the paid premium services soon. Feel free to share your feedback/queries on premium@vjondalalstreet.com
Happy Trading!
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