Have been mentioning at various occasions that correction in market is due, and any correction should be bought into since the same may be short lived. Bull market corrections are always quick and deep but very swift. They recover back in the same speed they came down!
Two days of correction saw mid and small caps stocks correction almost 10% to 20% and they all started recovering today. Market moved up 480 points today to close above the crucial level of 27000. All major sectors rallied today.
The rumours in the market suggest that there was a basket buying from Japanese and Chinese FII’s! The Prime Minister had recently visited #Japan and got a commitment of Rs.210000/- Cr investment over next five years from there. #China has also committed huge investments into India today. Many bilateral agreements have been signed between India and China today.
We will have to now see if the buying continues. Next week the market may get volatile as the derivatives expiry comes up. Let the #Dragon fire up our markets until then!
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