Some one suggested that tata steel should touch 250 level in near feture, are u agreed with this.
About: Company: Tata Steel Ltd.
Before answering your Question directly.I want to ask u a question,who was responsible for pushing the market up from 10000 levels(In March) to over 15000 levels(May-June)?
Was it Small Investors(like you and me),Was it MFs?,Was it Insurance& Pension funds? Was it Speculators?Was it the banks?
No,the answer is that it was the FIIs.They have pumped in more than USD 4.5 Billion into Indian stock markets.The best indicator of that was the USD-INR rate.It peaked at Rs 46.70 and is now heading back to below Rs 48.This shows that Inflows from FIIs have dried up.They still have plenty of cash to invest,but are now in wait and watch mode.There has been some small selling from them in the past two days;but nothing major.On the other hand,many long-term investors,Company Insiders(Suzlon,L&T,Kotak,HDFC,etc) are selling stock and Speculators are also bailing out.This is what is forcing a correction in the markets.
If the FIIs start bailing out Indian Markets will go below 12000 ...more