The days’ progress is now looking like it will kill the momentum. Barring the sporadic swings in isolated stocks such as Engineer’s India which was up whopping 10% at peak today, lost the fizz post the market weakness and finally closed up around only 3.4%. The mid-caps are now turning into ‘MAD CAPS’ running helter skelter, with no really direction; and it is extremely difficult to put your hands on any specific bunch or sectors which would stand out.
For now it is too early to tell whether January 2012 would turn out to be solidly up or precariously down, however, that the momentum could be up or down would be decided in the middle over’s of the innings. For now it is time to nudge the days and pick up and be ready for the earnings season which is up on us in less than 10 days.
Will keep it short for now. The market closed down after two days of strength, and thankfully losing only 0.33%, some consolation. The tax season has started and we just hope that ELSS schemes (those dreaded ones) should marginally impact the market. Wishful thinking? Maybe.
Sleep tight.!!!
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