We have turned neutral again but a decisive move is coming
When crude oil prices were around US$107 some time in the middle of March, in its run up to US$147, the Sensex at 16,000. At the time of writing this piece, crude is below US$107 and yet the Sensex is at 14,500. A sharp decline in crude prices (since the middle of July) has caused the Sensex to rise 23% from the bottom but the market...
The market continues to struggle to find a direction
In my previous column (titled ‘Nice While It Lasts’), I had said that while the main indices have run up by 23% on the hope that the government will put through “reforms” and the fall in oil prices will help. At the current stock prices, these factors are somewhat factored in; and, at best, we will get a move back and forth. “Specifically,...
Expect a small pullback and pray for more positive news
In my previous column, I had said that, over the short term, the 12,514 bottom made by the Sensex was significant. From here, I had surmised that there were three possibilities. First, there would be a pullback of the rally that started, followed by a fresh upmove. I felt that the rally that started before the trust vote in Parliament...
