Today, bulls will hope for a bounce back at regular intervals during the interim rough patch being seen on the bourses. At the same time bears will continue to scout for money making opportunities. One should remain on guard as volatility could escalate ahead of Thursday’s F&O expiry. Don’t get hurt while the bull-bear tussle is on.
The Nifty is likely to oscillate between 5100 and 4900 depending on the news flow and fund flows. With the key indices up smartly from March lows, the upside may be limited from here on. There are some concerns on the pace of the rally amid a somewhat murky outlook but no need to panic as such. Globally, risk appetite may start easing a bit as we approach the year end. Demand for defensive plays may shoot up. Dollar’s movement will continue to determine the near-term fate of global equities. Economic data will of course continue to have a bearing on sentiment. The overseas Christmas holiday season will also be keenly followed. For India, the big event will be Q2 GDP data.
