Pre Open Thoughts: No Comfort Yet!!!
Ø Life is full of obstacle illusions. If we're growing, we're always going to be out of our comfort zone. There seems to be neither growth nor comfort in the market. Opening is likely to be on the flat to negative thanks to the world markets. The overall undercurrent still remains shaky and fragile. One thing is sure that these are tough times for not just India but also for the entire world.
Ø Back home a rollback of passenger fare hike by the new Railway Minister coupled with market talk of a possible downgrade of India and weakness in the Rupee added fuel to the fire in last session. FIIs don’t appear to be too excited to pour in a lot of money into India.
Ø Next week is devoid of any major domestic event, barring of course the F&O expiry. All Eyes are on the Rbi Meet next Week That is on 17th April.
Ø The Nifty is likely to be in a trading zone of 5200-5500 in the immediate future. A breakdown below 5160 i.e. 200DMA could take the Nifty towards 5000. On the way up, it will face selling pressure. Overall, the trend may remain range bound and sideways in the near-term amid a mix of local and overseas headwinds.
No comments:
Post a Comment