Dalal Street is likely to trade in a tight range today on flattish global cues and as investors digest infosys numbers that hit the street badly on Friday last week. Asian markets are trading marginally in the red on Monday morning.
News Bytes
* RBI, Sebi likely to crack the whip on FII funds in banks
* Sterlite to double copper-smelting plant in Tuticorin
* China raises banks' required reserves again
* India’s chemical exports will double in 18 months
* RBI may hike key rates: Economists
* Reliance, Essar, IOC to buy Cairn crude oil this fiscal
Markets - Shaky but underlying strength is a big positive
We believe though Infosys disappointed, TCS might provide the bulls with the much needed oxygen. Inflation went up for the month of March but marginally though. The underlying strength is bullish and stock specific approach is the best way to fight this market.
Midcap and smallcap stocks will be in favour. Textile stocks are on a roll with Arvind hitting new highs and SKumars, Alok trying to follow the suit. Though market indicators are favouring bears we are not too concerned at this point of time.
Today's Above....5843.50 Mark....!!!
Nifty Future......May Try to Hit.......................5874.00 and than...............5890+ too in Today's Trading Session..( Your Buying SL : 5817)
Below.............5807.00 Mark......!!!
Favours Bears Only........and May Try to hit........5781.00 and than........5763.00 too.....
Your Selling SL : 5831.90