Well, the whole market has been misled by the Washington political show today. Traders thought a deal was almost done and would come to fruition tonight. So some sort of euphoria was prevailing towards the end of the trading. But exactly at one minute before 4 pm when the market was closed for 2012, the news was broken out that no deal would be made today but there was no time for people to dump stocks. I think a revenge will hit the market on Jan 2, 2013, the first day of trading in 2013 and let's be ready for the a severe sell off in 48 hours, unless some sort of miracle occurs that they strike a deal on Jan 1, 2013. But I'm almost sure now that a deal will come very soon, if not by Jan 2, to revert the fiscal cliff. So to me a market crash is likely a good buying opportunity. We will see.
Happy New Year!
• ICICI Bank Q1 net rises 25% QoQ to Rs2,605 cr.
ReplyDelete• Biocon Q1 profit drops 51% to Rs81 crore.
• Crude oil rises on falling US crude supplies.
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