Indian Markets to trade in green today

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.

Why?

Because:

– 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%.

Asian markets chart

– 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. )

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