While it was just open and close thing, all that ment was Sensex jumping 2000 points in a matter of 30 minutes. It hit the upper circut and it was gone. To much happiness of all investors. While reports came that US retail sales fell for a second month in April.
Its an amazing, isnt it this Sensex thing. Keeps going in a zig zag manner. Now for tomorrow, its gonna be either the lower or the upper circut that is going to be breached. Hold your horses.
If positive, sensex will reach on 15,500 and settle at 15,100 at the end of the day.
I read on ET that Sensex may even reach to abnormal levels of 29,000 by the end of June. Well, they might have facts and reasons to believe which is making me wonder how long will the prediction stand logical.
President of India, Pratibha Patil has invited Manmohan Singh tomorrow to form a government. Who all will be in cabinet is anybody’s guess.
But one thing is certain, Sensex will beat my predictions but I would like to say that assuming anything that is more than 17,o00 is not a good idea give the global slump. There are lessons to be learnt from the fall and every one should be cautious.
Trade safely with 16,500 in your minds for June 2009. That would be my prediction.