The market decisively fell during the early part of the day - Sensex by over 500 points and Nifty by over 150 points.
Nifty closed @ 5263 (down 102) and Sensex @ 17523 (347).
If there is no recovery back to the level of 5400 and 17800 in the next few days - the long term trend would also seem to be down.
Almost all Nifty scrips were down - Reliance, Tatamotors , Grasim - over 4% down and ITC, Infosys, sesagoa, sterlite TCS down more than 2%.
The apparent reason touted by the experts about the apprehension that Govt was considering the taxing of the investment thru Mauritius - does not seem very logical.
The reason is - the risk averse attitude of most fund managers and the overall macro situation - inflation, interest rates and the policy paralysis of the govt.
Good time to buy selectively with a time frame of 3 to 6 months for a decent appreciation.
Nifty closed @ 5263 (down 102) and Sensex @ 17523 (347).
If there is no recovery back to the level of 5400 and 17800 in the next few days - the long term trend would also seem to be down.
Almost all Nifty scrips were down - Reliance, Tatamotors , Grasim - over 4% down and ITC, Infosys, sesagoa, sterlite TCS down more than 2%.
The apparent reason touted by the experts about the apprehension that Govt was considering the taxing of the investment thru Mauritius - does not seem very logical.
The reason is - the risk averse attitude of most fund managers and the overall macro situation - inflation, interest rates and the policy paralysis of the govt.
Good time to buy selectively with a time frame of 3 to 6 months for a decent appreciation.
Hey Raj,
ReplyDeleteDowntrend seems to be the order of the day, looks like.
I was wondering as to why there were no blogs since 3rd June.
Good to see 1 after a long time.
Keep going...
Love revi