Today,the market seems in a consolidation phase and the same is healthy. The key indices are likely to remain sideways in a range. The Nifty will face resistance around 5180-5200. It has to close above this level with good volumes for a few days to provide fresh impetus to the bulls. If at all it manages to cross 5200, the Nifty might struggle to surpass 5300 and is likely to hit a wall near 5360. Non-index counters may see some action. High beta is avoidable after a runaway rally. Defensive plays like IT, FMCG and Pharma would be safer.
Dhoni’s boys have triumphed in their quest for the pinnacle of Test Cricket. The Indian stock market is struggling to make new highs. Dhoni & Co. will find that life at the Top is not as easy as it appears. The real test of their character begins now. The same applies to the stock market. After having rebounded in a spectacular fashion from March lows, the market is finding it a bit tough to advance further.
