30/01/2012
Nifty not below 4700 Level..........
Markets continue their winning run along with global markets.The Indian stock market had its fourth positive close in a row- something unusual in the last 15 months. This was in line with global markets and was underpinned by strong inflows from foreign investors. This has helped the Rupee appreciate some 8% in last three weeks from 54 to the US Dollar to somewhere a trend above 50. The Nifty has closed above the psychologically important level of 5100 and we are predicting that even if there is a correction, it will not take us lower than 4700 or so, besides global economy is not being certified healthy.India had seen some very good inflation data especially on the food front and this also helped in sentiments.-Pace Research (paceresearch.co.in) - 28/Jan/2012
