Remember my Feb blog where I said that once FIIs start buying, we’d be inching towards new highs. Here’s it for your reference.
Well, well, well… FIIs have been buying since last week and we’re already 10% up from 22,000 Nifty.
Just fyi, FIIs have been net sellers in Indian markets since past few years. In past 5 months they relentless sold ₹3,50,000 cr worth of equity from 26,200 to 22,000.
Last few days they bought. But bought only worth ₹16,000 crores. And with this tiny buying from them, we’re up from 22,000 to 24,150!
Now imagine if they try to buy ₹3,50,000 cr worth of equities again.
I’ll leave you to think over that! 😁
