Pre Open Thoughts: Sea of Uncertainty!

Pre Open Thoughts: Sea of Uncertainty!

Ø  Few cross the river of time and are able to reach non-being. Most of them run up and down only on this side of the river. Consider yourself lucky even if you have been on the sidelines of late. Only Few can stomach the gyrations.

Ø  We never know what will happen. The market is in constant motion and is a sea of uncertainty. We must learn to become comfortable with alternative views if we want to have a true mental edge.

Ø  The fragile rupee is also likely to make it tough for India Inc. to repay overseas debt. Export-oriented sectors could benefit though from a weaker rupee.

Ø  We must remember that apart from the global drivers, which have been under question for a while now, India has been suffering from quite a few local headwinds as well. Inflation has remained sticky despite RBI's action. There has been mounting evidence of an economic slowdown.

Ø  The start is likely to be negative as most of the World equities are negative.

Ø  The Nifty could encounter resistance around 4900 - 4920. On the way down, the key level to watch out for is 4800. A break below this level might set the stage for re-testing of the 2011 lows. However, that is still some distance away.

Results Today:

Alok Industries, Coal India, Deepak Fertilizers, Hindustan Oil Exploration, HT Media, Karnataka Bank, Manappuram Finance, Panacea Biotec, Petron Engineering, Saint Gobain, SBI, Tata Steel, Torrent Pharma and TV Today.

Global Data Watch today: G8 Meeting, Germany Producer Price Index (Apr), US America Petroleum Institute Monthly Report and Canada CPI.