SMI –12th September 2013 – Market View

Posted By : Kishore B.S

Hi friends,

Nifty showed good strength yesterday. In the noon trade it was down by 50-60 points testing 5850 levels but by the end of the day it recovered all its losses.

Rupee has shown remarkable recovery trading at sub 63 levels. The steps taken by the government and the reduced CAD have helped to sustain the rally.

Global markets are also showing flat to positive bias. So, as of now both on the domestic front as well as global front there are no major headwinds. Today we have the IIP data. This data is 2 month lagged. So, there might be an initial reaction but one should not read more into the IIP numbers.

The best strategy for now would be to use all the dips to add to your long positions. The more time Nifty spends in this consolidation phase, more is the probability of a 100-200 points rally.


Team SMI

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