I can see NSE has quietly updated their site, but no tweet update nor on their FB page. NSE20 lost the 5000 handle to close @4975.
This was expected. I sold my VIP ticket and I laid out the plan in advance for those that needed to copy the same.
At 5000 NSE20 is way ahead. We need a lot of liquidity to flood in and I hope the new Fin Min will implement some of my suggestions to keep the bull on. If treasury chooses austerity without a mix of stimulation in manufacturing and consumption those talking of 5400 will just be that - just a talk... 5000 - 5500 zone is a resistance thicket and we need a sharp blade (heavy buy volume) to slash it down. Banks must be forced to cut lending rates. Tbills need to go below 7%. CRR needs to be cut to add strength to the liquidity flood back into the econ. The macros need to be hammered into healthy life. Who'll be the bernanke... Let's see what the national budget will present since the politics alone cannot push the econ. Liquidity is the life blood...
The next market setup is the ICC ruling (case dismissed is the event I'm looking for). Prepare for this to profit from that event.
For now I expect NSE20 to range between 4700 and 5100. Sideways action aka range bound aka consolidation aka boring price action - neither here or there.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!