Dalal Street might witness the much awaited pull back rally on Tuesday as Asian markets traded in green on positive US markets. FII selling continued on Monday but DIIs came to the rescue with a Rs 1000 crore buying which shadowed the Rs 900 crore sell-off in the cash segment by FIIs.
Markets - The cat fight begin
Yesterday's tape did speak of some buying emerging at lower levels. We believe from here on it is not going to be easy for bears to drive down the indices. Domestic Institutions and Insurance companies who are sitting pretty with cash might step up buying. Q3 numbers demonstrated that India Inc is on its way for superlative growth in the coming years. Q4 might be hit due to rising borrowing costs for companies but it is the demand from the consumer that will drive the economy in the next couple of years.
Think long and think India.