In my view this week Indian equities are showing uncertainty.
Because all of us expected a correction in the market on Monday because of the crisis of Japan and because of the crude oil issues. All markets except Indian market showed negative trend, especially European and Asian markets.
But yesterday market closed in red.
Today sensex closed 191 points and nifty 61 points in green.
Tomorrow there is a chance for a correction in the market especially in the Banking sector. Because the RBI policies for controlling the inflation will be decided tomorrow.
I think tomorrow and Friday will be the best time for buying. Be careful and make correct decisions.
From the Banking sector I'm positive on Yes bank Federal bank and IDBI bank in short term point of view.
SIB Canara bank SBI SBT Axis bank in the long term point of view.
Japan’s Nikkei bounced back with 5.7% gains after witnessing a sharp downturn in the previous sessions, which was caused by natural disasters and nuclear explosions.
Experts says that keep an eye on Crude oil prices. Market will remain volatile for more time, till we have clarity on how this oil crisis really pans out
Raamdeo Agarwal of Motilal Oswal Financial Services says it is quite possible that the market might see some surprisingly new low before it sees a high. "Nifty, in all probability, will hit 5,000 before touching 6,000," (Reference: Moneycontrol.com)
Regards Hari " लोका समस्ता सुखिनो भवन्तु "
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