Indian markets are technically poised for all time high formations because Wave-3 is continued for targets above all time highs but view is cautious today and valid break out of 6046-6156 should be firstly watched because sentiment is being dampened due to following recent developments:-
1- CBI filed a FIR against Kumar Mangalam Birla and Former coal secretary P C Parakh over alleged irregularities in the allocation of a coal block in Orissa, sending shock waves among industrialists and bureaucrats across the country.
2- Mr Parakh commented that Prime Minister Manmohan Singh cannot escape responsibility in the controversial allocations and PM should also be an accused as he is equally responsible in coal block allocations.
1- CBI filed a FIR against Kumar Mangalam Birla and Former coal secretary P C Parakh over alleged irregularities in the allocation of a coal block in Orissa, sending shock waves among industrialists and bureaucrats across the country.
2- Mr Parakh commented that Prime Minister Manmohan Singh cannot escape responsibility in the controversial allocations and PM should also be an accused as he is equally responsible in coal block allocations.