We can barely handle a regular flu outbreak. As if the deficit monsoon was not enough, we now have to grapple with the growing concerns over swine flu. Though the situation has not yet reached alarm levels, it might have some effect on sentiment. More worrisome is the virtual disappearance of rains. Food prices are already pretty high and with the festival season approaching, it is likely to spike up further. A drought is the last thing that India needs at this crucial juncture.
Thankfully, the bulls got a dose of good news over the weekend in terms of stronger than expected US jobs data. This has come as a shot in the arm for the market, which is likely to overlook worries over swine flu and shortfall in monsoon. Among the key events to watch out this week would be the IIP numbers and comments from the Fed. We see the Nifty moving in a broad range of 4300-4800 in the near term. Ensure a healthy balance of your portfolio to stay immune from the vagaries of the market.
