Pri Market Commentary ...

Today, we see a cautious to slightly positive opening due to mixed global cues and stable oil prices. The usual swings on F&O expiry would be see in the indices. The next big trigger for the Indian market will be the passing of the Indo-US nuclear deal, upcoming quarterly results and a possible easing of monetary policy. At the same time be prepared to everyday to wake up to lot more global happenings which could impact us.

Today, for the time being, traders should concentrate on the immediate events, i.e. F&O expiry and inflation numbers, which could have a bearing on the sentiments on Dalal Street. Today we expect the market to have a subdued opening. Wednesday’s range-bound movement indicates that the market is apprehensive over the near-term direction. Aggressive buying should be avoided for a while. The undertone is still bearish.

For, Nifty 4050 is major support.