Off late BSE been tracing globals. dow rises BSE rises.China falls BSE falls.
for a change let`s write BSE first. @ 15922 .........watch for 17724
on a technical inverse Head n shoulder pattern (with gap yet unfilled)
dow @ 9544 .with breach of 9656 and support of 9014 watch for 10800
(hope it does not a boomerang to 8k !!)
INR :- importers to get some respite. - only "some" respite.
What`s the scene on ground: -We regularly talk to people , no one seems to agree that their exports to europe or US have picked up . Domestically famine has taken a firmer grip. Thanks to India, Global sugar producers are riding on 28 -1/2 year sugar high. Even the tur dal chaps are happy. The statisticians are happy with -ve WPI, the goldsmiths would be happy at just below 15k / gram , gold miners are happy at 950 $/oz. , The arabs are happy above $70 / bl ,
-- The remaining may get a chance to get happy looking at sensex.
It remains to be seen who get`s unhappier first-- If you don`t want to be the first one, use the forex moves over next few days to freeze your margins in business -- so that you can stay happy for a prolonged period !!
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