Today, we expect the market to open on a cautious to flat note as most global markets are sluggish. Thereafter, the trend will turn sideways and rangebound. With the GDP data out of the way, the focus will be on crude oil prices and whether the Government manages to bite the bullet and increase retail fuel prices.
Of course, ground reality remains that rising inflation is reducing the weight of wallets across the board. Inflation has the potential to touch double-digits in a few week's time. If inflation does spiral out of control, the RBI will have no choice but to resort to some tightening measures. The RBI may even hike the repo rate, which may not please India Inc and the bulls.
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