Indian market is in range bound from a long time. Nifty moving from 5500-5700 range.
But this time nifty broke 5580-5630 support range , now nifty have next support at 5400.
There is no local news to stimulate Indian market right now. There are lot of expectation from winter session of Indian parliament related to reforms. FDI is one of them but since opposition party are not supporting FDI in retail , there may be lot of chaos in near future.
Investor are just keep eye on wait on watch policy.Retailer investor should also wait and how the market react in near term. Near support for nifty is 5400. If market may not break this level in near term then market may go up as expert are expecting long term market to 6000 nifty by next year march 2013.
