The Indian cricket team has attained World Cup glory again after over two decades. It was a splendid team effort indeed and a proud moment to cherish for years to come.
The Indian stock market too has been in terrific form in the past two weeks, thanks largely to strong FII inflows. But there might be some cooling as Brent oil trades near $120 a barrel. Nymex is hovering around $110.
Since the next batch of earnings is also just round the corner, investors could well choose to take a breather of sorts; unless the overseas investors have other ideas.
The start today is likely to be a positive one, spurred by upbeat global cues. US stocks closed higher on Friday on the back of a strong jobs report. European indices did even better. Most Asian benchmarks are on firm wicket as well.
Watch out for RCOM, Unitech and DB Realty after the CBI filed its first chargesheet in the 2G scam.
Technical charts point to some sideways consolidation in the near term with 5700 acting as an immediate support.
