Today, we may see a higher opening on the back of the late turnaround on Wall Street. Things were a bit mixed in Europe. Similar is the case for Asian markets this morning. Given that the market has been subdued for most of the week, there is a case for a technical or rather sentimental rebound. Overall, the trend is indecisive and sideways.The bulls seem to be gathering courage and saying that this is not the finish line but the pit stop - a la F1 style.
The bulls are taking a breather after a great run since early March. Fatigue appears to have set in after the main indices hit multi-month highs.The monthly jobs report to be issued in the US later today will be keenly followed. The US markets will enjoy an extended weekend due to the Labour Day holiday on Monday.The current insipid trend may continue until we get the next trigger(s) which could swing the market either way. Among the key catalysts will be the quarterly earnings and the half-yearly policy review by the RBI. The direction of fund flows will continue to have a bearing.
