There may be a budget rally before 10th July and Indian market nifty may headed for 8000 before that. If Budget would be having as per market expectation then we can Nifty around 8500. Great rally expected from Power, Engineering , Infra sector.
People are betting mostly on Infra and Power sector. New government is planning huge to invest in infra and power .There is lot of scope in terms of policy improvement and funding.
Nifty Reached almost above 6000. As there are interest rate already so high , world economy not showing any type of strength , we are moving to a world of austerity. US recent fiscal cliff added more taxes burden.
Taxes and Austerity all over reducing spending. Spending reduction will add more loan burden on corporate.
Developing country have their own problem of high inflation and poor infrastructure. Their is a great chance of a correction in nifty of around 500-600 points. One can short nifty around 6100 with a SL of 6300 for a medium term target of 5500.