Has Nifty started a pre-budget rally? Or, is it a ‘hope’ rally that the budget will have positive measures for the market? Or, is it just a technical break out from a bullish ‘flag’ consolidation pattern? Or, is it ‘all of the above’?
Economic fundamentals haven’t really improved. Improvement does not come automatically with a change in government. Only policy changes and their quick implementation can change things after some time.
<p style=”color: #222222″>So, why did the Nifty touch a new life time high today? Good question. Perhaps the FM’s recent statements were taken positively by bulls. May be Pakistan’s military action against terrorist hideouts in the lawless north-west frontier provinces will finally bring some peace in the region.
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