Indian markets behaved like obstinate mules yesterday, touching the green finish line but refusing to cross it.
What they will do today?
They will run like a horse and cross the green line in early trade.
– U.S. markets had an spectacular relief rally yesterday.
– So much so, that the Asian markets have jumped high in opening trade today. Stock markets of Japan, Hong Kong, Singapore, China, are up by almost 2%.
– SGX Nifty, (Nifty futures traded at Singapor exchange) are up by +71 points in early trade.
– And Europe stock futures are also high this morning.
– Indian equity benchmarks have been signaling a bullish reversal since Friday.
Yesterday, they behaved like a bad borrower, who took money from traders and ran away. But, as Ronald Regan said, “You can run, but you cannot hide”; Indian markets can not hide today:).
(p.s.: It may be a short rally, as we are coming close to the month’s expiry and Indian indices have been trading in a very narrow range for the last two sessions. )