What fundamentals.. Bulls are on the rampage

This is the excerpts from my morning market view that is posted early in the morning in my blog

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  1. All risk assets are breaking out. Safe havens USD, JPY & Gold are lower

  2. Risk-on mood is taking hold on the hopes of economic recovery

  3. FIIs bought heavily yesterday in the wake of rating downgrade (retail offered liquidity??)


  1. India’s GDP & stimulus are lagging behind

  2. There are no India specific positives

  3. Continuing border standoff with China

Global Markets: - Everything is up

Global markets ended positively yesterday and they continue to zoom this morning. European and US futures are trading in green in Asia session. Copper, commodities and emerging market indices are all moving up after break out of range. Volatility index falling and getting close to long term averages. Central bank’s monetary easing is flooding the markets and optimism on economic recovery is further helping bulls.

ASIAN Markets this morning: - Bulls are in control

All of Asian market is up sharply this morning and SGX Nifty is comfortably trading above 10k psychological mark.

Calendar events

India’s Purchasing Manager’s Index (PMI) will come out by 10.30 today. Expectation is 38 Vs 27.4 last month. Services PMI of China rebounded sharply just as the manufacturing PMI did. Will PMIs are another data really mean anything today? I doubt it.

India : -Where are the 10K Caps

Although there is nothing much on economic and stimulus front in India, unstoppable global risk-on mood is raging in the global markets . FIIs bought about 7.2K crore yesterday on the wake of rating downgrade. Probably they used retail sell volumes to buy. This tells me that FIIs are not going to be selling anytime soon unless there is a major negative news.

Result announcement:

Auro pharma, Cholamandalam Finance will release their results today. DLF and NIIT will declare quarterly results tomorrow.

Disclaimer: Author is not responsible or liable, directly or indirectly, for any form of damages whatsoever resulting from the use (or misuse) of information contained in or implied by this posting. This should not be relied on as a source of financial, investment or trading advice. What works for one individual may not work for anyone else. Always consult and check with your financial advisor. I am an active trader therefore I have conflict of interest with whatever I have mentioned here.

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Most of the FII buy is due to Kotak QIP which is around 7000 CR

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