After a gap of 16 months India's premier Index sensex crosses 17,000 mark. The volume is pretty low but bulls are well back in the track. Today (Tuesday 1st october) Indian bourses started a bit down but after it cameback and now in complete control of bulls. Only droback is that only index stocks are doing well, small caps and midcaps are not showing much activity.FII overflow is the reason behind this short term rally.
Retail investors stay away from the scene since they are in doubt. They forsee a correction and profit booking in short term. They are waiting for suitable opportunity.It is advisable now to stay away but to bank on fundamentally strong stocks particularly in the midcap sector. Today there will be bit volatility in the market since long weekend is ahead. Last year this time Indian market was not performing well due to the meltdown globally after an year market well back in it's track. In short term the bull run will continue.
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