Pre Open Thoughts: So Far So Good!!!
Ø Faith is the bird that feels the light when the dawn is still dark. FII’s have a good faith on the Indian benchmarks owing to which inflows have gained some traction lately. This is partly the driving force behind the recovery from recent lows. Of course the moot point is whether Indian markets can continue to attract foreign portfolio investment.
Ø Politics has yet again triumphed over economics, especially with state elections round the corner. All eyes are on the country's political landscape, as five states go to polls in the coming few weeks. Union Budget will be another important event for the domestic markets.
Ø The start today is likely to be flat to marginally positive. Asian markets are mixed to flat. European indices closed up as well so did the US indices. With a host of results being announced stock-specific activity will be seen. The global developments cannot be overlooked either.
Ø TCS and the IT pack will be in focus after the company delivered another solid quarter. Aviation stocks might extend gains on reports that the Centre is likely to allow up to 49% FDI in local carriers.
Ø According to Systems Nifty has broken the crucial level of 4950 which ignited the buying momentum and managed to close above its 100 DMA. The immediate support might come around 4800 for time being.
Results Today: Bajaj Finserv, Bajaj Finance, Infotech Enterprise, Jindal Steel, Mindtree, NIIT Tech, Raymond and Tata Coffee.
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