The Sage of Omaha is in India finally and feels he should have come here earlier. Better late than never as the legendary investor says. He has also confirmed that India fits into his scheme of things as a large investment destination.
With the market in a state of flux one ought to try and take smaller bets and stick to quality to avoid getting caught on the wrong foot. We are staring at a lower opening due to indecisive global cues and trepidation over the ongoing turmoil in the MENA. Japan’s nuclear issues and Europe’s debt troubles are among the other major pressure points that one is grappling with as of now.
Markets may be relieved that the Government has taken a baby steps towards pending reforms. The tabling of GST bill and the Banking bill is positive, but not without controversy, as the Opposition staged a walk out. Hopefully the momentum in policy making will gather steam.
A move above 5435 could help the Nifty march towards 5470. The next key levels are 5500 and 5550. But, the big one is undoubtedly the 200-DMA (~5680).
