The fuel price hike has suddenly fueled hopes of more reforms from UPA II. A cabinet reshuffle is on the cards shortly while the PM has decided to speak more frequently to the media. But, problems remain - largely in the form of high inflation, spiraling interest rates and drop in investments.
The Indian market has rallied for the past four sessions – the longest winning streak in three months. Hopefully, the rally may just have enough steam to last a bit longer.
The start today will again be pretty bright, what with world markets advancing on hope that Greece would avert Eurozone’s first ever sovereign default. All eyes are on the two-day parliament debate and vote on the unpopular austerity measures in Greece.
Back home, FII inflows have picked up again. The Bank Nifty has signaled a breakout and could help the Nifty attain 5600 in the near term. The next big target will be the 200-DMA which is around 5750.
