Today, we expect another muted start as global markets remain indecisive. The Fed has not done nothing unexpected nor has it made any surprise statements. Rates in the US will remain at record low for quite some time, though the fire-fighting steps may gradually be reversed. Sovereign debt default scare still remains with S&P now downgrading Greece.
Gurus of market have spoken about the time in the market which is important rather than timing the market. Investors sure will benefit with the extended trading hours. Come Friday, those directly and indirectly linked to the stock market will start early as trading begins at 9 am.Though economic recovery is well underway, data points are likely to be erratic. Valuations are not cheap and there is concern that liquidity may be lower next year as central banks start unwinding the monetary stimulus.
Technically, the Nifty will find support near 5000 levels. With bulls and bears in holiday mood, expect the indices to remain in a narrow range for now. Have a nice time, in the market and outside the market.
