Tuesday, August 18, 2009

Market summary

A low volume rally from yesterdays sell off took markets into green today. But I would not read too much in todays action and markets are in no mans land right now and may consolidate here for couple of days before giving a further direction hint. Sector wise oil/steel/materials were leaders while staples/utils/healthcare were the laggards. Internals were positive today. Dollar pulled back a little but any further strength in dollar would cause risk aversion.

I have been trading very little lately since its hard to bet on direction of market right now.

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