To be honest we are bearish about the prospects of the market and our reasons for same are as appended below:
- Govt lack of direction in finance segment policies is sending negative signals worldwide.
- Rupee is depreciating against dollars as FIIS are not investing due to lack of clear policies.
- Nifty is lacking any movement and is range bound.
- RBI may not cut further rate of interest
- Govt is not able to control fiscal deficit.
- Crude import and its related subsidies is another cause of concern
Keeping all factors in mind we feel that Nifty will retouch 5200-5000-4850 mark soon as it is trading with negative bias.
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