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So after days of correction which wiped out a lot from the investors wealth,finally on Friday the markets bounced back with a massive 594 points to settle at 18243 levels and Nifty was up by 180 points to settle at 5317 points.The triggers came from two areas ofcourse the Global trends i.e US and Asian markets and the other from the FII activity which started buying into some of the scripts at lower levels and fairly good valuations.
Now the question looming over everyone’s mind is whether the steep correction over by now?Well thats a tough question to answer at this stage ,i feel Indian markets may feel some more jitters on it way up.The subprime issue and the US economy recession will take some time to cover up all the losses that they have made in spite of Fed cutting the key rates and pumping billion of dollars into the economy.
Majority of the stocks ended their day in green.In the recent market fall we saw the mid caps losing much than the sensex 30.So it will be a better decision to stick to market heavy weights in sensex 30 for some time and leave alone the mid caps.With budget coming in the month end which is expected to be politically motivated looking at the elections in May 2009,we might expect some tax cuts which will be a good trigger fro the markets.And we may see an uptrend coming in the coming days.
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