A minor tremor shook up Delhi following a powerful earthquake in southwestern Pakistan. The capital will remain in the spotlight due to the impending Cabinet reshuffle today. A full-fledged one is likely after the Union Budget.
The real worry is the policy impasse and the lackluster performance by the UPA II. Opposition continues its tirade against the Government on various issues, setting the stage for a stormy Budget session. Hopefully, there won’t be any major political tremors.
Meanwhile, the market seems to be delicately poised after having averted further setbacks for the time being. The big question is whether the recovery can be sustained or will the market slide again. Keep an eye on the Dollar-Rupee rate even as FIIs remain on the sidelines.
We are set for a steady start. The Nifty could face some resistance around 5800 and it will take a while to cross 6000 again. On the way down, 5620-5630 could act as good support. Results have started trickling in and there have been a few nasty surprises like Infosys and Exide. The Tata Steel FPO opens today.
