Bear End Game ??

So, is everything finally coming in place? The government finally managed to save itself. Oil managed to reach a 6 week low. The US market seems to be gearing up for an upsurge lately. And Asian markets are giving a thumbs up today. To add to all of this, if you notice the trend of our own markets lately, they seem to be suggesting towards a small bull ralley. The reason I say "small" is because I am still wary there may be a few corrections before we can say with a surety that the bear phase has abated. That the world economic scenario looks a bit rosy is no consolation for the fact that things like inflation and consumer sentiments are still low and likely to go down further. Add to it the fact that the sub prime woes are not completely gone ( remember, almost all big US banks have declared huge write downs and have come out with massive losses).

I had yesterday stated that "A few positions made today also maye be erased in a sell off tommorow". Well, it seems that the positions have changed a little overnight. Yes there will most definately be a good amount of sell off but given the changed scenario, there will be far greater buying in the markets today. Expect the BSE to do a 14,700 plus for the day and the Nifty at 4,350-4,380 with a possibility of the nifty just about making it to 4,400 while the BSE may also see similar jump towards 14,800 for a brief while. The stock of the day? of course, PSUs, Oil, Banks, and yes Realty. The dampners of the day? IT probably, solely because the rupee is expected to strengthen today to about 42.40-42.50 range. The End game may see a lot of the intra day positions being unwound, leading to a small decline, but will not be able to hurt the overall positive sentiment of the market.

So, is the bear phase over?? Not yet I believe, but let us leave that debate for the future and enjoy the day.