Thank God - I reamined away from futures in last 1-2 months, as I always believed in Buying. But look at what has happened!One year before people were predicting that sensex will touch 30000 and today, it is struggling at 10000 level.
Market has totally neglected supports or positive news that are coming in.
Inflation is cooling off
RBI positive of liquidity crunch and reduced CRR by almost 250 basis points
Crude and commodities are cooling off
But Sensex is finding no more support. Fear has taken over now on greed.And thats why it has come below 10000. And situation is going to stay there for quite some time.
My sincere advice will be stay away from market.Even if it jumps significantly, Sellers are going to put a pressure on it. It is likely that it will touch 8000-9000 in coming days.Only then value buyers will start showing some of confidence. But as of now, it is total turmoil all over the world.
And only safer way is to survive is keep cash with you. You need it now most.
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