==>> Global markets helps Indian markets to rally

Global markets helped, Indian markets surge nearly 4%. BSE was up 520 points to closed at 14109 and NIfty closed at 4286 up 159 points. US markets were positive on back of, revial in the US consumer index. Asian markets too followed the US markets. Before opening of the Indian markets, SGX Nifty was up around 112 points. ADAG Group shares outperformed the markets. Pranab Mukherjee will be decalring budget in the 1st week of July. Operators expect markets to rally till that time. But there is profit booking at the higher levels. There has been profit booking in the last few days, that has lead the Nifty fall down to 4092 levels from the recent high of 4509 levels. Major of the stocks have been almost doubled, and the stocks are not looking cheap. IT stocks have been downgraded by many broking houses too. Nifty will continue to face resistance at the 50% retracement level. Till the time this it is not crossed, avoid having too much position.