Pre Open Thoughts: Soft Start!!!
Ø The results you achieve will be in direct proportion to the effort you apply. We expect the current sideways consolidation phase to prevail.
Ø Market breadth and volumes have been tepid, reflecting the cautious approach adopted by most players.
Ø The start today will be quiet again but the undertone is not as bad as it was last week. The key indices may continue to be sideways and range bound with a positive bias. The trading for the rest of the day will hinge partly on global cues and partly on domestic factors.
Ø According to our systems the Nifty is likely to face resistance around 5350 and even beyond that. The Nifty may accelerate if it is able to cross 5350 decisively. A move below 5280 could trigger some fresh selling.
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