Today we expect a slightly lower start owing to soft global cues. US stocks fell despite Fed’s dovish words. Talk of potential changes to the EU-IMF debt rescue for Greek cast a shadow over world markets. Asian markets are mostly in red as US consumer credit and Japanese machinery orders reports missed economist estimates.
The bulls finally managed to jump around Mount 18K but didn’t really manage to hoist their flag. The Nifty could surpass 5400 in the near term, provided there are no untoward developments and FII inflows remain firm. Some selling pressure will set in at higher levels given the jitters surrounding high valuations. In addition, a spate of headwinds like elevated inflation, impending rise in interest rates and a fragile global economy could play spoilsport. Monsoon will of course be the joker in the pack.
Back home, IIP data will be declared on Apr 12, while monthly inflation will be released on April 14. RBI’s annual policy is on Apr 20. Another round of rate hike could be in the offing. So, trade wisely and be on guard to shift gears quickly if the need arises.
The bulls finally managed to jump around Mount 18K but didn’t really manage to hoist their flag. The Nifty could surpass 5400 in the near term, provided there are no untoward developments and FII inflows remain firm. Some selling pressure will set in at higher levels given the jitters surrounding high valuations. In addition, a spate of headwinds like elevated inflation, impending rise in interest rates and a fragile global economy could play spoilsport. Monsoon will of course be the joker in the pack.
Back home, IIP data will be declared on Apr 12, while monthly inflation will be released on April 14. RBI’s annual policy is on Apr 20. Another round of rate hike could be in the offing. So, trade wisely and be on guard to shift gears quickly if the need arises.
