Pre Open Thoughts: Hale & Hearty Morning…
Ø Motivation is what gets you started. Habit is what keeps you going. A wonderful Thursday lay in store, as the worries of the world take a backseat. How long we can sustain this rally is the question everyone is asking right now. We expect the positive trend to persist for a longer time now.
Ø After a couple of nerve-wrecking and highly volatile sessions , the global optimism coupled with some good earnings announcements and strong FII inflows will likely help the markets to move higher. All eyes will be on the developments in Europe.
Ø Meanwhile, Montek Singh Ahluwalia, deputy chairman of the Planning Commission has been quoted saying that the finance ministry is likely to focus on fiscal consolidation in the coming annual budget. The forthcoming Union Budget must exploit the opportunity to begin this process in a credible and sustainable way, the RBI said.
Ø US stocks end smartly higher on Wednesday as upbeat economic data and Germany eased concerns about the global economy and Greece neared a long-delayed deal on a debt swap. Asian markets are also hale and hearty this morning. And of course, the start on local bourses will also be positive.
Ø According to Our systems Nifty broke out with good volumes the crucial level of 5250. Wednesday’s ascent could lift the Nifty to at least 5400-5450. However, profit booking is not ruled out around 5350 levels.
Results Today: Marico,Hexaware,Thermax,AndhraBank,CorpBank,ChennaiPetro,AndhraBank,P&G,GilletteIndia,PhramalHealthcare, Piramal Lifescience, EIH, Whirlpool of India, TTK Healthcare, Gujarat Narmada Valley Fertilizer Co, Astrazeneca Pharma India, Essar Ports, Rashtriya Chemicals and Fertilizers, State Bank of Mysore, Lakshmi Vilas Bank, TRF, Transport Corp. of India, Gokaldas Exports, Welspun India, FameIndia
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