• Evidence presented in the chart shows that the volatility in stock market (SPX 500 & DAX) is rising; this is sure to make the market rise dis comforting in the coming months. The first one is SPX 500 & DAX as next in the figure.

• In recent days the volatility has dropped sharply but the long term average volatility in rising steadily.

• If history is of any evidence we can expect more volatile days ahead.

• If the Greek situation worsen or cease fire deteriorates further in Ukraine; bulls in the market can take larger hit over the short term.

• Fundamentally the outlook remains bullish for the equity due to the fact that major central banks around world are easing policy & global growth is improving, though in divergence. Despite so, as political risk increases, we expect the market to remain cautious and volatile.