Today, keep your goals reasonable and don’t forget to take some gains home. Overall, the sentiment is positive. So, ride the momentum but some selloff is not ruled out as the market is near a year’s high. We expect a cautious start due to mixed Asian cues. As usual, trading will be volatile ahead of F&O expiry.
The Nifty could take a shot at 5200 though it may not surpass it. It may find support near 5075-5080 in case the market dips. The undertone will continue to hinge on global developments. A slew of economic reports are due in the US, which will have a truncated week due to the traditional start to the holiday season. Local event to watch out for is the release of Q2 GDP data.
Risk appetite seems to be up again after showing signs of a fatigue last week. Gold has hit a new record. Other risky assets have also advanced at the cost of the dollar. The underlying feeling is that central banks are unlikely to reverse the extraordinary stimulus anytime soon. This means the dollar will remain under pressure.
