Pre Market Commentary ...

Today, we expect a cautious opening. Technically, the immediate support could kick in at around 4800-4820 while 4950 remains a tough resistance to crack. Climate change has been an issue gaining center-stage. Fears are that a ‘deep depression’ over the Arabian Sea is expected to turn into a cyclone. Unusual winter showers may give a few people the chill, but there are no signs of any big storm hitting the market as yet.

Global cues are not offering a firm trend. There could be some more cooling as the market awaits the next batch of positive news – both from the economy and corporates. Withdrawal of stimulus measures would be a big test. Inflation too is gradually picking up and interest rates can only go up from here.

The market is set to remain sideways with mostly a positive bias. The overall undertone will remain at the mercy of overseas flows and global developments. Stick to a measured and stock centric approach. You can’t prevent a storm, but you could certainly ensure your safety.