Indian equities are likely to witness a ranged trade today with negative bias after a final hour rally that took short sellers by surprise yesterday. Wall Street extended the rally with Dow Jones adding up 50 point gain. IBM and Apple reported stellar numbers after hours on Tuesday
Markets - Not of woods, but end in sight
We are not convinced with yesterday's rally but expect the end of the selling soon. While midcap and smallcap stocks are out of favour understandbly as the recovery happens in the frontliners.
We expect markets to touch new lows (around 5500-5550) levels soon and then likely to bounce with a vengeance. RBI rate hike might be much needed trigger for the Bulls as the overhang will be done with