Today, we expect a cautious start and the usual choppy session. Most market players could ‘wait-and-watch’ before taking a fresh call. The near-term target on the Nifty is 4750-4800. For the Nifty to decisively cross the 5000-mark in the next few weeks, we would need very firm backing from global cues and an even stronger commitment from funds. In the meantime, the party may continue on the side counters.
Absence of fresh positive triggers could also keep a lid on further gains. At the same time, downside will be limited as plenty of players – who have missed out on the recent spurt - are ready to jump in. The market has been moving up for close to five-months now. No harm in getting a little lazy with your fund allocation. Skyrocketing small-caps are often a sign of trouble ahead. With no clear signals from global markets, looks like we are going to have a subdued end to the week.
Interest from foreign as well as local funds was quite anemic on Thursday. Today may not be much different.
