Monday market will start with additional uncertainty created by DMK .Volatility in the Indian market is going to increase with statements from Congress & DMK and international news on Libya. Though Govt. is not in minority, market dislikes any uncertainty. Govt. is surrounded by various scams, political uncertainty. This week SC slammed on issues of Hasan Ali & Thomas. Last 2 months' IIP data is on lower side.
Violence in Libya is increasing everyday, maintaining Crude above $100 constantly. Friday crude future closed above $ 104.As long as crude remain high, upside is limited.
Do not forget Europe, debt issue is still not resolved. On Friday, Fitch cut Spain's rating to negative from stable, so recovery in Europe is still fragile. US (Dow & Nasdaq) & European markets (FTSE, DAX, CAC) are near sell zone.
So keep stop loss of 5600-5625 on nifty & remain short.
Violence in Libya is increasing everyday, maintaining Crude above $100 constantly. Friday crude future closed above $ 104.As long as crude remain high, upside is limited.
Do not forget Europe, debt issue is still not resolved. On Friday, Fitch cut Spain's rating to negative from stable, so recovery in Europe is still fragile. US (Dow & Nasdaq) & European markets (FTSE, DAX, CAC) are near sell zone.
So keep stop loss of 5600-5625 on nifty & remain short.
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