Today,much will depend on the newsflow and advanced tax number may be discussed extensively for lack of other news. Any fresh bad news may mar the tempo. Fed policymakers are holding a two-day meeting starting today. With interest rates already low, investors are expecting Fed officials to shed light on the potential for quantitative easing. The next big event will be the quarterly earnings. It will throw up both positive as well as negative surprises. Till then investors may remain cautious.
The benchmark Sensex and the Nifty are inching closer to the 9k and the 2,800 levels respectively. Except inflation figures on Thursday there are no other major announcements in the week. However, investors will await the outcome of Federal Reserves two-day policy meeting starting Tuesday. No rate cut is expected but the tone of the Fed will be watched very closely.
Kalpesh Patel, FPA NorthPOLE INDIA
