Today, in the market too there is no recipe perfect for all cases. The same issues, usually bank-related, are turning from headwinds to tailwinds and vice-versa at regular intervals. After a long sprint bulls may feel comfortable unlacing their shoes. Hopefully they need not chuck it at someone to prove a point.
The key indices should soften a little today after the recent spurt. Global stocks have eased amid renewed skepticism about a quick recovery in the financial markets and therefore in the global economy.
Bad news, which was getting ignored all this while, seems to have caught global attention once again. Consider this: Alcoa has swung to a loss on 'historic' aluminum price fall. RBS is to cut 9,000 back office jobs. Eurozone Q4 GDP contracts more than expected. Concerns about the health of the western banking system are still in place. A top European central banker warns that G20 measures could stoke inflation.
With the Nifty index ending above the crucial 3,250 mark, bulls would look to carry on the momentum. The 200 DMA stands at 3450. But, a truncated trading week coupled with the anxiety over earnings and elections might just halt the bulls.
