Domestic Liquidity - matter of concern
Mutual Funds net sold on a monthly basis for the first time since Narendra Modi came to power in May 2014. MFs have been consistently buying on a monthly basis since May 2014.
What's worse - they have sold every single day in the month of March 2016 except March 01. This is a matter of concern considering domestic liquidity has been source of great strength for Indian market over last 1.5 years
A very sharp pullback on USDINR Chart
USDINR chart has been in Bull market for quite a while now. After a long time - INR has appreciated to 200 day moving average. Technically - INR should depreciate now.
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Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers