Job changes only used to happen in October or January (after bonuses are paid).
The rise is very clearly a follow-up action after the early fall yesterday. But markets were thin, probably as institutional investors were absent, and the trend will be clear only on Tuesday, when the market reopens.
It is only matter of time before the market comes down. It could start correcting in two to three days.
It is a long-awaited decision. We have been waiting for last three years.
The king of Saudi Arabia recently came to India not to see our Republic Day ceremony. He came to see what is happening to the Indian economy and where he can invest his personal money in the equity market. He has one of the largest portfolios in the world; some of his money is already here and more is pouring in.
There is no reason for exuberance because of the budget. It is only the foreign money which is pushing the market up.
I expect the price to move up once that approval is taken and foreign funds start buying.
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