Lots of consolidation since market open at 9:15 am and never below 5485. Recovery was absolute after the 2:30 pass on applicable expiry prices..
Also shows, the bullish orb does not really want a battle at 5600-5620-5650, fairly ready to leave with or without rollovers but likely no one can yet see a reaon to support shrts, just correction sin ssome like banks and aviation companies along with Maruti, Bajaj and Hero , none able to shouldlder the burden of INR 2 – 3 Tln in daily trading exposure or India’s $2 tln capitalisation markets singly. Imagine one Tata Motors or one Kingfisher taking the pressure for being the spearhea dof this big a market, I can already collect the powdered remains from the market weight ride these have had.
More seriously, no nothing in lending has changed to show banks going past here. and that once decided makes it hard for the others to rise.
In non market Economic terms, a 5.5% fisc and a $155 bln ( as opposed to a $160 bln estimate till last week) is still a fait accompli as is a basic minimum 7% growth
From here, if there is anything more than Lifestyle consumption and the wait for lending , I can’t see it despite having played with the crystal ball a gazillion Saturday nights!