Pre Open Thoughts: Unpredictable Trend!!!
Ø Money is the opposite of the weather. Nobody talks about it, but everybody does something about it. The market is again turning as unpredictable and the trend is likely to continue today. The bad news apart, not many would have predicted a sharp and swift turnaround in sentiment. But, markets always find a way of surprising participants - the way they have done in the past one month.
Ø Markets will have to deal with Industrial growth and inflation numbers which will be out on Thursday and Friday respectively. RBI meet on the 17th April will be another driving force.
Ø On Global front Asian shares eased, as investors cautiously awaited Chinese trade data to gauge whether the world's second largest economy could achieve a soft landing, after a sharp slowdown in US jobs creation clouded prospects for global growth.
Ø Going forward for a clear direction we need also see a fair amount of action on the policy front. And the matter of the fact remains that the markets need to see clear evidence of fiscal consolidation. As Mounting evidence of an economic slowdown have resulted in a short supply of confidence and conviction. Only silver lining in the clouds is Softening crude oil prices which can act as a catalyst for the Indian markets.
Ø The Nifty could encounter resistance around 5300 and 5320. On the way down, the key level to watch out for is 5200. A break below this level might set the stage for re-testing recent lows of 5000.
Ø The FIIs were net sellers of Rs 2.69bn in the cash segment on Monday while the domestic institutional investors (DIIs) were net sellers of ~Rs 1.05bn, as per the provisional figures released by the NSE.
Ø Bharti Airtel Ltd will be in focus after the company is likely to launch broadband wireless access (BWA) services based on 4G technology in Kolkata later today.
Ø In another news article stated that The price of compressed natural gas (CNG) in the capital could come down by 20 per cent and of piped natural gas (PNG) by 10 per cent in the wake of an order on Monday by the Petroleum and Natural Gas Regulatory Board (PNGRB),IGL shares would come in pressure on account of this
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