Today, for Indian market there could be some cooling, if not today than over the next few days, after the recent bounce back. Remain guarded even though the ongoing rally may prompt some to reckon that the worst is over.
Even as the bulls are enjoying their winning streak, it’s more than a dream come true for Democratic Senator Barak Obama. The American public are just about to finish voting for a new president, and indications show a clear lead for Obama over his Republican rival John McCain. It's not as if Obama is a magician who will remove all the pain. The fact that the uncertainty over the US presidential election will soon be over seems to have bolstered the sentiment across the globe.
On Tuesday, we wondered how long the current rebound in global stocks last given the weak economic outlook? Well, for the time being the bulls are all set to continue the momentum even today. The biggest factor is the big gains made by US and other world markets overnight. Asian markets too have opened sharply higher this morning.
Put higher trading stop losses and ride the brief rally for now.
