Mumbai stocks are most likely to open marginally in the green after Asian markets are trading positively on Ireland bail out news. Japan's gross domestic product grew 0.9% in the July-September quarter, picking up from 0.4% growth in the previous three months, pushing Japanese stocks higher.
Irish Bailout
While till yesterday Irish officials were denying EU bailout, Germany pushed to accept a bailout and help reverse a bond sell-off across the euro-region’s periphery.
Dalal Street - Subdued open on cards
We expect Indian markets to open in the green after severe battering in the last two trading sessions. It is not advisable to go short at higher levels atleast for today. One should be cautious with commodity stocks along with Banking stocks.
While Finance minister's comments about 9 pct growth might not bring too much cheer from the market, dead cat bounce might bring in some gains to the market. We believe the trend would be clear only after Wednesday and one should be cautious in the next three trading sessions.
We do not have a second thought in saying this correction is just a passing cloud and Indian markets will be back on track soon