Pre Open Thoughts: Testing Times Continues!!!

Pre Open Thoughts: Testing Times Continues!!!

Ø Things change for the better when we take responsibility for our own thoughts, decisions and actions. All eyes will be on Mint Street – RBI’s headquarters. Whether the central bank does the unthinkable by cutting repo rate or opts for status quo is anybody’s guess. Here again, the element of suspense will ensure a nervous start.

Ø Asian markets are mostly mixed. US stocks closed with slender gains as did their European counterparts. Global markets seem to be consolidating as old worries return to haunt investors.

Ø The markets will of course rejoice if the RBI does lower its key lending rate. According to our systems as long as the Nifty holds above 5175-5170 levels the uptrend is not in any danger. A move past 5350 could accentuate the buying momentum.

Ø The rise in bond yields and continued depreciation in Indian rupee against a US dollar too playing on mind of investors and keeping them on tenterhooks.

Ø Things are expected to be slightly choppy going into F&O expiry next week . On the whole, things should be volatile. Staying away from the market action for few days won’t do you much harm.

Results Today:

Goa Carbon, IFCI, Ramsarup Industries, SKF India and VST Industries.

Global Data Watch today:

Reserve Bank of Australia monetary policy statement, China FDI (March), Japan's industrial production, Japan's consumer confidence, UK consumer price inflation, UK DCLG house price index, UK retail price index, Eurozone consumer price index, Eurozone ZEW survey, Germany ZEW survey, ECB President Draghi's Speech, US housing starts, US building permits, US industrial production and US capacity utilisation.