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Pullback or ????????

Looking at the inauguration of Asian games Chinese traders & investors will also be expecting that in their respective financial  markets, not only Chinese people but we all are expecting that.

All the big markets saw decreases in their respective index value , especially in the last day, market such as China  saw even  5% - 6% correction. In US like every were market was looking for an excuse to be down and  Cisco systems Inc.  provide that opportunity.


Index
 Week ended Nov 12

Week endede Nov 5




GOLD
-1.90%

2.7




DOW
-2%

3%




LONDON
-1.30%

3.50%




BRAZIL
-3%

3%




JAPAN
1%

4.50%




INDONESIA
0.30%

0.60%




CHINA
-4.60%

5.10%




INDIA
-4%

5%
     
( Figure  in  approx )

Japanese  market is still overbought we may see little more correction there . Chinese stock markets were heavily corrected in last day, probably due to inflation &  rate fear. We may see same picture there in coming week but this huge correction creates more buying opportunities considering it a short-term pullback.
Japanese Yen  depreciates  this week against the US$ this may be a little bit better but on the other hand Euro is again appreciating against US$.

In India all the resistance are vanishing & index was going up. This time it reaches more than 6330, it’s previous high was more than 6350 in early January 2008.

From 5900 level it took just 5 days to reach 6330 level and for reaction certain pullbacks are inhabitable and this week we saw some big corrections in certain stocks. Last day Realty & Infra stocks were hammered down.
5960 level is very crucial for nifty though it is true when market corrects it will be very immature to predict any level, and this is more true when there is a   ???????????????????




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