Wolrd markets followed the US markets today after poor home sales data hit the market resulting in what can be called a trend changer. We clearly mentioned yesterday that this time S&P might break the so called support level at 1045. At the same time we do not expect markets to tank like they did in May. The pain will be slow and steady. US Economic daa will be keenly watched.
Indian markets are displaying immense strength but the current rally might fizzle out as they ran into major resistances. Small and midcap stocks continued their upward journey.
We are expecting a dull month going forward with a negative bias. Stay invested but save some cash for a rainy day. There might be thunderstorms ready to hit the markets soon