Globally, equities are in an uptrend, particularly the US. The US dollar has
gained remarkably on account of a rate cut from the European Central Bank and
an announcement of quantitative easing program. The positive US economic
data is also supporting the US dollar. That is putting pressure on gold prices.
Locally, fundamentals for India have improved. Positive sentiment amongst
the foreign fund managers towards India is driving Indian markets higher.
Having said that, Nifty is showing signs of fatigue on the upside. Barring auto
and pharmaceutical sectors, other sectors just appear to be languishing.
Going forward, Nifty may consolidate at higher levels for the coming week.
gained remarkably on account of a rate cut from the European Central Bank and
an announcement of quantitative easing program. The positive US economic
data is also supporting the US dollar. That is putting pressure on gold prices.
Locally, fundamentals for India have improved. Positive sentiment amongst
the foreign fund managers towards India is driving Indian markets higher.
Having said that, Nifty is showing signs of fatigue on the upside. Barring auto
and pharmaceutical sectors, other sectors just appear to be languishing.
Going forward, Nifty may consolidate at higher levels for the coming week.
Oil prices edge down ahead of OPEC, non-OPEC production cuts.
ReplyDeleteCrude Intraday Tips