Friday, December 19, 2008

Sensex abover 10k mark

Sensex reached above 10000 mark since oct. 1st for the first time and also Nifty crossed 3000 market. Both are contineously trading above these levels and it is believed that short term trend is bullish.

FII have to show good records in their portfolio and thus their buying will surely support the market in the short term. On the other hand there is bunch of good news flowing into the markets like the inflation data which fell to 6.84% yesterday, it increases the possibilities of RBI rate cut.