Pre Open Thoughts: Global Fusion!!
Ø Know, first, who you are; and then adorn yourself accordingly ; the indices again are set to kind of oscillate in a range with no clear destination in sight.
Ø The markets are unlikely to be shaken by a late evening earthquake in Indonesia causing several nations in the region to issue tsunami warnings. Volatility could also remain elevated given the murky global scenario with so much uncertainty and anxiety over the precarious state of the US and Eurozone.
Ø Domestically, concerns are related to policy, taxation and fiscal situation. So it is a combination of both. That is the reason that the markets are gyrating between 5200-5400.
Ø Coming back to our markets today the start is likely to be a tad subdued. Moderation in FII inflows is also a cause for concern.
Ø Let’s hope things on the macro-economic front don’t get worse from here on only silver lining is that Oil too has slipped.
Ø IIP, inflation, Infosys numbers and RBI policy action meet will be on investors' radar are among the few important events to watch out for in the coming days.
Ø One need to take comfort from the fact that lows of around 5000-5100 that we saw some time back are likely to hold on, at least for the near to medium term till we see further bad news that has already not been factored in. On upside 5300-5350 remains to be the resistance levels whereas on downside a decisive break below 5000 level with volumes will create panic and nifty can downslide to 4700 levels.
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