Posted By : Kishore B.S
Rupee after so many months was trading below 64 levels. This has boosted the sentiments in the market. Yesterday FII were net buyers of around 2500 crores. They covered all their shorts and entered into fresh longs.
Syria concerns look to be eased of right now. This has led to a correction in the commodity prices like Crude, Gold etc which would lead to a decrease in CAD. The export numbers showed a 13% growth in exports with the CAD narrowing down to $10.9 billion.
As of now the sentiments look positive. So, all dips should be used to add longs for a final target of 6100 levels.