Pri-Market Commentary!

Today, we expect the market to open on a cautious to slightly higher note. Profit booking could set in later. Most factors that led to the big crash in the first quarter may still pose some challenges going ahead. Don’t get carried away with the current euphoria. Lock in gains in stocks that have seen a healthy rally over the past month or so.

FIIs have not been pretty active during the ongoing rally, which raises some doubts about the strength and longevity of the rebound. This week, the outlook remains positive, with the US economy continuing to avoid a recession and job losses decreasing. In fact, some Wall Street observers are looking at a much shorter and milder recession than what was anticipated. It remains to be seen, however, whether this indeed turns out to be true.