FII data, F & O data is all very bullish. An addition of 27 lacks in nifty future and huge put writing. But the total open interest is above 4 crores in nifty future which may be a point of bear advantage.
But, based on few points the situation is viewed in pessimistic way.
Sarad Pawar shared the dias with Left parties today in Orissa.
This may lead to 4 th front in Lok Sabha election and weakens UPA.(Chances of congress/BJPs come back to power is lessened)
US asked India to take part in AFPAK policy.
This may create disturbance in India with our participation in war, if it breaks out.
Based on any one of the above points our markets may fall drastically either after 16th April or in May. Else because of international disturbances in 2009 our markets will see further fall continuously to the year end. What leads the matter and at what time is unknown?
Definitely peace may not exist either politically or economically during the year. Hence, one may book profits in the stocks/ en cash the stocks for the year and think for entry after the end 2009.
As a trader one can do anything. But I believe that today's trades are not for bullishness. It is only a trap for side ways money into market. One can try to trade down side either on 16 th April or/else 16 th May.
One view market may crosses 200 day average line at nifty 3450 and falls.
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