The Indian stock market seems to be going its own way and seems it doesn't have much impact of the Global trends,but be very cautious on spending now in indian market.The sensex is already trading at very high E.P.S nearly 18 times and scope of going up from level of 18000 is very less.However the market is finding its support because of huge FII investment recently in the market and thats the reason its trading in range bound from 18000-18200 level, but as the past data reveals this month is known for correction.The August month has always been bad for indian market and so the indications are it would follow the same pattern this time as well.My advice would be to wait for some time before investing in market especially A group stocks or rather sensex based stocks because those are the ones which are bound to take pounding once market crashes.
I feel the market would get support at 16,500 to 17000 levels and there is where one must look in building his/her portfolio, so keep an close eye on the market and dont get misguide from global trends because indians market are now following its own trend.
Cheers :)
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