Dear followerAs per our positive outlook for the Indian markets as mentioned in last blog Nifty has substantially bounced back. Our bullish call made Nifty jump from 5477 to 6100.
Stock specific returns had been more than 100%.We urge our readers to book this tremendous gains. We are tactically cautious on the market hence forth we close all our long trades.
Reasons for our being now bearish on markets are so forth.
1) Dollar Index seems to break out above 83 levels and is expected to move up towards 90.
2) Rupee seems to be weak and is expected to move to 60 against Dollar.
3) Geopolitical situation in
is going to create
uncertainty in coming days. Syria
seems to be in trouble and we expect lots of bad news from Europe.
5) Yen carry seems to be overdone.
6) Fed may unwind QE slowly going forward.
7) Political stalemate will hang on Indian markets.
8) We at wiTdom expect early elections in October 2013.
9) Reforms and growth concerns are going to arise because of instability.
10) Corruption eruption issue is going to lead huge resignations in coming days.
We urge all our reader to be cautious on equity and exit market .Sell in May and go away and come back after elections.
wiTdom investment advisory
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