Pri Market Commentary ...

Today,we expect a rebound at the opening bell after Friday's weak show. Some more short-covering-led rallies are not ruled out. Don’t get fooled by such pull-backs as there is no dearth of perceived bad news.The trend this week will hinge on a slew of variables, such as the global markets, crude oil, macro-economic data, FII flows, results and of course the political situation.

One thing is pretty difficult to attain in stock market i.e. timing of entry and exit. Last week's resilience notwithstanding, we still can't say whether a temporary bottom was reached on July 2. It’s too tough to ascertain the market's direction at this juncture.