Effect of Emergency declaration in Pakistan to Indian Share Market....!

04/10/07

As everyone know's by now that Pakistan President Pervez Musharraf has declared state of emergency in Pakistan.Terrorism and extremism are growing faster and the law and order situation in the country as well as the economy have been adversely affected.Pakistan is really having tough times now.But, what impact will it have in indian share market? Does it really have any effect here....! In my view, emergency in pakistan will not have an impact in indian share market.Though i feel markets might slow down a bit before picking up pace again as emergency declaration in pakistan is their internal matter and nothing to do with indian share market.We will just see how the things unfold in coming day's.Market is overbought and definitely needs a healthy correction and i feel market is also manipulated a lot and when the FII'S start taking out money from the market, real panic might start.But, it's all later matter and for now, let us hope emergency in pakistan will not have any effect in indian share market.Till nifty holds on to 5700, trend is bullish only.If at anytime, nifty breaks 5700, then also 5000 will be the strongest support on downside.