The week started strong with the Nifty moving up on the back of steady buying. The last few sessions has seen the foreign portfolio investors (FPIs) changing stance and buying rupee assets. It remains to be seen if this is just rebalancing or a full attitude reversal after they have sold heavily through the past three months.
However, newsflow about the Trade war and Iran sanctions, etc., could derail the move. Crude prices continue to rule high. The Nifty is now nearing the top of a trading range it has been moving within for several months. The renewed FPI buying could just take it ...
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