Monday, May 19, 2008

Consolidation Time

In the last week, the Stock Markets were in a positive territory neglecting the rising inflation numbers. I think this could revert markets from higher levels. Now that we are approaching the May expiry, the heat may cool down and markets may consolidate between 16700-174000. In June after monsoon reaches the southern states the markets could rejoice and move higher. Companies like L&T, HDIL will announce their results which may support the upward move for the Stock markets.

 Sounds like the bad patch is over for the markets and its just consolidation time!

 Happy Trading

1 comment:

Alex said...

I agree with the author's conclusion.

The worst looks to be over and the market seems to have largely priced in the effects of inflation and the problems in the global markets.

Baring further marcroeconomic shocks we should be in consolidation territory now.

Let's hope stability returns to the global credit market or FDI growth may become the limiting factor.

Alex
alex@moneyvidya.com

http://www.moneyvidya.com/