Pri Market Commentary ..

Today, the market will open higher due to strength across global markets. Investors should consider booking profits at every given opportunity, as the recent spurt doesn’t suggest end of the bear phase as yet. At the same time, downside risks have also eased, pointing to a rangebound trading in the short to medium term. One may undertake long-term purchases once there is clear evidence of a turn around.


Later in the month, the quarterly results may spoil the party, especially if there is any major negative surprise. In any case, the intermediate uptrend may run out of gas after a while in the absence of fresh catalysts. In this context, the trend in FII flows will play a crucial role. Buying support from local funds will be more than welcome.

With rate cuts and other additional measures announced bulls would carry forward the momentum atleast in the opening trades today. However, one should not get carried away in this swing but wisely use the opurtunity to exit and book some profits.