Liquidation of long positions seen in the market. Short term technical indicators showing an overbought condition and stretched market situation. Good buying seen in 5300 puts. Dollar again showing strength. In political front, coal mining issues may halt parliament process. A delay in policy making will cause serious impact in economic growth. last weeks FOMC minutes and ECB news were already been priced. Market moves on hopes, not on news. For the coming week it may be more regional to Nifty as it started showing signs of caution towards the expiry.
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