Today,we expect the recent upward bias to continue in the short term, though weak global markets could lead to a cautious opening today. With the Indo-US nuclear deal moving ahead, the overall sentiment will remain positive. Thereafter, we might see the main indices shed some gains ahead of the outcome of the FOMC meet on Tuesday. Also, there could be some profit booking after a four-week rally.
We expect some cooling as global markets are not that supportive. The bias remains positive though, as FIIs were big buyers on Tuesday. Inflation numbers will be out today after the market closes. There is a likelihood of some more moderation as crude oil has cooled off considerably in the past few days. The Government will also come under pressure to reduce fuel prices if crude slips below $100.
We expect some cooling as global markets are not that supportive. The bias remains positive though, as FIIs were big buyers on Tuesday. Inflation numbers will be out today after the market closes. There is a likelihood of some more moderation as crude oil has cooled off considerably in the past few days. The Government will also come under pressure to reduce fuel prices if crude slips below $100.
