NIFTY alongwith all other markets made a BANG on Thursday. Expiry day in May series also helps a lot to cover shorts in Nifty. Stocks rallied all over the world on Thursday. The European indices, the FTSE, CAC and the DAX gained 3.1, 3.4 and 3.1 % respectively. The US market indices were made a decent gain on Thursday.
NOW THE QUESTION IS WHETHER WE ARE OUT OF WOOD OR NOT ? Is It a Relief Rally or the Real One .. ?
Some Ques are::
• China expresses that it will remain as a long term investor in Europe, leading to a rally in all
securities.
• Equities, sovereign bonds and commodities gain.
• The Euro currency too stages a bounce from the four year lows.
• More European countries plan or authorise more budget cuts.
• Optimism prevails in all the markets, at least for the day.
However, we may look whether Nifty go beyond for 5047 level or not....Only then we may decide whether we are out of wood or it was only short-covering for expiry.................
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