Pre Open Thoughts: Markets Not Budging!!
Ø Bad times have a scientific value. These are occasions a good learner would not miss. Indian economy has hit a rough patch amid mounting concerns about the growth. A depreciating rupee is bad news for one and all.
Ø One can hardly ignore the politics of the country. So much is at stake in the forthcoming assembly elections, especially in Uttar Pradesh. The Election Commission is likely to reschedule the first phase of the Uttar Pradesh assembly polls. Q3 earnings season will also kick off in the right earnest. Infosys and HDFC will release their numbers on Thursday.
Ø The start today is likely to be muted once again, with most global markets not budging much amid thin trading volumes. Crude oil is trading near one-week low. The dollar index was hovering around the 81 mark.
Ø According to Systems major resistance for the Nifty is seen at ~4850 levels and a close above the same could reignite buying momentum in the near term. On the downside, 4700 remains important pivot below which recent up move could turn void.
Ø Results Today: Amtek India and IndusInd Bank.
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