This is just past 2 pm this afternoon as the new week begins well on sentiment on Monday,July 15,2013
Sensex yet again regains 20000 in 2013 ~ so am I a skeptic or a cynic as the Sensex plays yo-yo in the year !?
2013 has seen the Sensex at 20000+ levels on many days but then has corrected from these levels to lows in the range of 18000 to 18500
In fact it closed 2012 at 19500 levels,not having breached 20000 on the upside even once in the year,but clearly showing momentum as 2013 began.It crossed intra day 20000 first on January 15,2013 and recorded a month high of 20204 on January 29,2013 before dropping to a 2013 year to date low of 18144 on April 15,2013
It surged again inside a month and on May 8,2013 it crossed 20000 again recording an intra day high in the month and even in the year 2013 till date on May 20,2013 at 20444
Then it dropped back in June 2013 in the intra day range of 18467 to 19860
Now today on July 15,2013 it’s again crossed 20000
I Love playing Yo-Yo ! and seems so does the Sensex !
Am I a skeptic or a cynic !?
Well,Skeptic is one who has doubts and is not easily convinced and Cynic is one who believes that people always act from selfish motives concerned only for their own interests also is a person who raises doubts about something
So is this Sensex deluding in the upmove ? ~ I would tend to be a skeptic and say it was as I clearly see this Sensex rise as a disconnect with the worsening macros and a revisiting the Corporate Earnings Growth Rate in Fy 14 for a downward revision which I feel are not fully factored in as yet ,contrary to many market observers
Is then the Sensex being manipulated or urged up ? well,that would be cynical ! ~ but then there are always vested interests at play in Indian Equities and managing the Sensex is not really a new game !
The Reality is that the Sensex is on the upward momentum and is trying to create a new all time High by crossing the 2008 all time High High of 21207 that’s just 6% away after it first crosses the 2010 High of 21109
The Sensex Six Month Yo-Yo in 2013 should make you Cautious,especially if you’re playing and punting on the Indices ~ High Probability that in the second half of 2013 too it plays Yo-Yo !