There is no healing but only hurt which is more than evident from the speed at which 'fasts' are taking place in our country. Due to denial of permission, it's not Jantar Mantar for Anna Hazare this time. The action shifts to Rajghat.
On Tuesday, the main Indian indices managed to stay afloat thanks to some value buying in blue chips, especially RIL and Infosys. FII numbers have been encouraging for June and a lot of attention is being given to the mid-cap space too. Some follow-on buying may be seen at start. With global markets in the red, the Indian market will have a task at hand to maintain the slight upmove.
The US indices pared most of its gains after Federal Reserve chairman Ben Bernanke uttered confirmations of gloom. Economic growth has been below its potential, he admitted. Nothing was heard on QE3.
With the Nifty widely expected to remain in a range of a few hundred points this expiry, the temptation would be to jump into short term option strategies. Instead adopt a cautious approach in selective buying in the sound mid-cap and large cap space.
