Bulls regain grip on markets

The bulls seem to have recovered their nerves, at least temporarily. The Reserve Bank of India (RBI) holding rates steady was expected and was ignored. Strong bullish trends in the US translated into strong trends in Emerging markets as well.
 
Although FPIs (foreign portfolio investors) remained net equity sellers through October, retail and domestic institutional buying has picked up. The Nifty pulled above 10,000, though it couldn't sustain those levels, after finding support at the 9,675-9,700 zone.
 
On the upside, the mark to beat would be 10,178, which was the all-time high generated on September 19. The bounce