NIFTY - the contrarian ? ?

The Euro zone is again at logger heads. Greece's problems have resurfaced and it is worried on how to the $11 billion needed for repayment. Euro crashed against the dollar to its yearly low , whiel other asian markets too followed suit.

But the Indian markets are still positive and that is despite high inflation and reports of a higher budget deficit due to oil marketing companies' increasing losses. Are we 'hoping' our way out of our problems ?



Time will tell. Nifty at present is still in 'no man's land' A road range for reference is 5250 and 5340. I will be surprised if it gives upward break - but then we are mere followers of the market and we shal do so!

A close below 5240 now can give the needed warning to all of us.

Happy trading !

CA Rajiv D Khatlawala
www.investogyan.com