Nifty finally breaks out !!! The index is likely to go scott free till 5500 levels. One interesting point to note US majors Alcoa and Intel came out with excellent numbers while Indian biggies seems to have lost though it is too early to comment keeping in mind Infosys numbers.
In the next 3 weeks one can witness flurry of earnings activity. Realty is the latest entrant to the bull run. We want to bet on Mumbai realty companies especially Ackruti city and Orbit Corp as the stocks never got excited even when the Mumbai real estate market hit the top.
How long we continue to the upside ?
Last 10 days have been a feast to the bulls with low volume support. US earnings appears to beat the market. Chinese and Indian growth started slowing down. While chinese markets reacted to the same, Indian markets haven't despite of low IIP numbers. It is really tough to predict the market at this point of time but given the upbeat sentiment Nifty's move towards 5500 might be a cake walk