Pre Open Thoughts: Act Sensibly!!

Pre Open Thoughts: Act Sensibly!!

Ø People always call it luck when you've acted more sensibly than they have. The movement of the market may not make much sense. An indifferent start is in the offing owing to mixed global markets and nervousness ahead of the forthcoming state poll results and the budget session in the parliament and also the upcoming Budget which will be crucial in this context.

Ø Indices again are set to kind of oscillate in a range with no clear destination in sight. A lot would also depend on the FII flow which has been staggering in the past month or so. IIP will be out tomorrow. Given the headline global risk we would advise caution till Nifty closes above 5400. Corporate earnings will also continue to attract attention.

Ø It looks like the world stocks are taking a breather. Asian markets are mixed this morning while the Nifty futures trading in Singapore are pointing to a muted start. Keep in mind that there is a considerable risks prevail for both Indian and overseas markets

Ø Nifty raced ahead but failed to close above 5400 mark. The Indian indices may consolidate in medium term.

Ø According to systems a clear direction might emerge once the Nifty manages a decisive break and close above 5400 from the current range only then it could gradually rise to 5,600, As mention in our previous notes the way down 5200 level, which acted as a strong resistance before, may now act as strong positional support for the market.

Ø The Foreign institutional investors(FII’s) continued to be on the buying side with provisional figures for Wednesday stood at Rs 3.84bn in the cash while the Domestic institutional investors (DIIs) were net sellers at Rs 4.24bn, as per the provisional figures released by the NSE.

Results today: Tata Steel Group, Hindalco Industries, ACC, Ambuja Cements, Hindustan Petroleum Corp, Adani Enterprises, Jindal Saw, Apollo Tyres, Cummins India, Gammon India, Dishman Pharma, Fortis Healthcare (India), Fortis Healthcare (India), MRF, Alfa Laval (India), Jindal Stainless, Hinduja Global Solutions, Dishman Pharmaceuticals and Chemicals, Moser Baer, Gujarat Narmada Valley Fertilizer Co., Ruchi Soya Industries, Gujarat State Petronet, GTL, GTL Infrastructure, Orbit Corporation, New Delhi Television, TV18 Broadcast, TV Today Network, Page Industries, Indiabulls Securities, Rajesh Exports, Talwalkars Better Value Fitness, KRBL, JK Tyre & Industries, Bannari Amman Sugars, Honeywell Automation India, J.Kumar Infraprojects, Mukand.