There
is no end in sight to the current political standoff over the Lokpal
Bill. Anna Hazare’s health seems to be deteriorating as well. No one is
willing to give an inch. So, the impasse may persist till there is a
meeting of the minds on the anti-corruption bill.
The
opening today is likely to be a bright one, with most world markets on a
firm footing. US stock benchmarks closed up for a third successive day.
Their European counterparts did even better. Most Asian equity indices
are up as well.
But,
don’t take anything for granted as today is F&O expiry and there
may be a few wild swings. For the Nifty, the key support in the
immediate future is 4850. On the other hand, 5200 could be a major
resistance.
FIIs continue to be net sellers in the cash segment while the DIIs are net buyers.
Meanwhile,
gold has lost some of its shine, and the CME has hiked margins again.
Markets are keen to hear out Fed chairman Ben Bernanke on Friday. Some
expect him to announce a QE3, but whether Bernanke will oblige or not is
a mystery for now.
