>Infogram (ANAGRAM)

THINGS ARE LOOKING BETTER

Though we are not out of the woods, Things are decidedly looking better.

The Nifty broke through the resistance at 3050 to close to post a monthly high of 3123.This is highest closing registered by the Nifty in the past two months. This rally has seen Nifty putting on 28%,a mark that cant be just frittered away.

We had seen a large rally in October- November 2008,When the Nifty jumped 28.15%.It zoomed 2525 to 3240 I n just 7 sessions. with both bottom & top days being counted. The current rally is slow by those standards, taking 14 sessions, double the time, to cover 3/4th of the distance. This rise & consolidation augurs well for the markets.

There is a change in the market sentiment for the better, Retail investors are tip toeing back in the markets & the domestic fund managers have begin to put their cash to work. After being net sellers for January and February, they have pumped Rs. 850 Cr in the month of March. The FIIs too have bought stock worth Rs. 687 Cr.

In the ensuing quarterly season we likely to see better numbers on a QoQ basis form the auto, cement & metal sectors.

To see full report: INFOGRAM