Global equities tumbled on Tuesday as the revolt in Libya drove crude oil prices to 30-month highs with Wall Street losing as much as two percent. Asian Markets are trading marginally lower on Wednesday
We believe stage is set for Nifty to trade ranged in the next two days with Players eyeing 5500 tomorrow. Worst case Nifty might close around 5400. Libya crisis is hitting the crude oil prices badly following which Indian government is likely to hike domestic prices soon. Inflation which is cooling-off now is likely to jump again as higher crude prices is likely to put pressure on other commodities.
If not for the Middle Eastern crisis, stage is set for rally in Indian equities in March
Today's Once Again..Below.............5468.00 Mark....Favours Bears Only...Below that Mark...NIFTY FUTURE is Likely to Hit........5451.00 and than....5423.00