Is optimism returning to Dalal Street? Last week the market had managed to remain in a positive territory. The Sensex witnessed a continuous upward movement for six trading sessions despite the fact that RBI had hiked the CRR by 50 basis points. So what does it indicate? Confidence among investors on the rise?
Though not very significant, people on the street sound more upbeat and the level of optimism is building up. However, sentiments remain cautious ahead of key results and RBI meeting on monetary policy.
Overall the feeling in the market is that the May series of futures may not be as bad and in the near-term we may witness a slightly higher level. The rollover of around 62 per cent suggests that there is a great deal of optimism in the market. Although this is comparatively lower than the average of last year when we witnessed a good rally. But it is much better than the 52 per cent rollover we had in the last month.
Though not very significant, people on the street sound more upbeat and the level of optimism is building up. However, sentiments remain cautious ahead of key results and RBI meeting on monetary policy.
Overall the feeling in the market is that the May series of futures may not be as bad and in the near-term we may witness a slightly higher level. The rollover of around 62 per cent suggests that there is a great deal of optimism in the market. Although this is comparatively lower than the average of last year when we witnessed a good rally. But it is much better than the 52 per cent rollover we had in the last month.
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