US Markets managed to close above 11,000 benchmark, its 18 month high. But as usual the rally looks tired and might crack down on any hint of bad news. Asia is trading down with Nikkei sliding 110 points at the time of writing.
For the time being ULIP issue is burried with the Finance Ministry jumping in to broker a deal between SEBI and IRDA.
Infosys results will flag off the earnings season today. While Infosys as a trend decider has lost charm in the previous 2-3 earnings it still commands high respect from the IT group. Expect Infy to post better numbers while guidance may be muted and concerns might be raised in the currency front.
As always in this kind of run in the market we find many junkies moving up. The current rally is no exception and one should exercise caution here.
Keep a tab on hotel stocks Hotel Leela, Royal Orchid Hotels, Indian Hotels etc