Indian markets are likely to marginally gap up today after a series of bloody afternoons from the past five trading sessions with the exception of Monday. Wall Street closed on a firm footing on Wednesday and recouped most of the Tuesday's losses.
Asia trading flat
Asian markets failed to take the advantage of overseas cues and are trading mixed on Thursday. Nikkei is down 54 points while Australian markets are trading marginally up.
Dalal Street - To witness volatility
Coal India IPO Thursday is the last day of bidding for retail and other noninstitutional investors including HNIs, while yesterday was the last day of bidding for institutional investors, that is foreign funds, local insurance companies and mutual funds. Among the global financial majors, Janus Capital , Blackstone, Temasek, Fidelity, T Rowe Price and Putnam have put in bids of $200 million each, quotes Times of India .Even the retail portion was almost fully subscribed with a day to go.
Nifty has hit our magic 5970 level in the final hour yesterday only to bounce back. We expect Nifty to trade above 6000 levels and it is extremely confusing to pick up direction in Nifty. Again we advice to play the market with technicals