A Million Dollar question and the most common, Please ask yourself few questions:
- Oct-1-2009 Nifty@ 5083 and Today on March-4-2010 Nifty @ 5080..What have you gained.
- Amazing return from Mutual in Past 1 Year Approx. 80-90%
- IIP showing full strength V/s. Food prices breaking all barriers(Inflation rising).
- Increasing Fuel Prices will make Inflation scenario even worst?
- Expected withdrawal of Indian government stimulus measures and tightening monetary policy.
- IPO & FPO facing hard time to cash on.
World
- Global Economy still recovering and crawling (When America Sneezes , The World Catches Cold.)
- U.S. Home Sales Decline in Sign Tax Credit Failing to Lure Buyers.
- PIGS(Portugal, Ireland, Greece, Spain) Countries showing danger signs.
- Japan-Capital spending fell 18.5% in 3 Months.(Don’t Forget it is Globalised World-Domino Effect)
My personal view would be bearish as if now (for few days), It is a relief rally on which Indian stock market is gaining momentum, A correction is much awaited by side. Time for cautious optimism.
History would repeat, Charts will form a new pattern, Till then follow the momentum. 
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