Techs, banks help lift markets 1%
Petrol prices to be raised by 3.14 rupees from today
Advance tax mop-up jumps 18%; RIL, TCS on top, SBI slips
Power Finance to sell Rs 69 bn of tax-saving bonds
NSE mulls tie-up with European bourses
Tecpro Systems bags order worth Rs 521cr; stock up 2%
BGR Energy lowest bidder for NTPC's 800 MW tender
SRS to list shares today
Jyoti Structures acquires 50 pct stake in Lauren Engineers
Oil companies hike ATF price by 2.5%
Infosys close to acquiring Thomson Reuters healthcare unit
IOC plans to invest $1.87 bn to up Koyali refinery capacity
InMobi raises $200 mn from Japan’s Softbank
Maruti Suzuki to stop production from today as strike spreads
M&M to sell 8.09% stake in Mahindra Holiday & Resorts
Nifty View- What happens in Europe? We were hearing just 2 days back that every thing is in bad shape. How the feel good factor appeared over night? Fundamentals have been changed over night? Difficult to perceive. Europe's effort to cover up all the black spots is very very alarming.
At our domestic front. Petrol price hiked after market hour and the EGOM meeting today may decide the LPG subsidy. Now the million dollar question is what RBI will do today? Lot of speculation is there that RBI may take a pause today and Market will blast at this. But, the situation is not that easy. A rate hike would be more beneficial for the market in near term than a pause by RBI. Rather, if rate is hiked, there would a possibility of end of rate hike process, which will attract the investors to the market. However, the price hike of petro products, commodities would drive the RBI to prioritize Inflation over growth.
For today,we continue our cautious guidance at high levels and also avoid fresh buying. One can consider going short when Nifty Future trades below 5040 with stop loss of 5080. On the down side, fall below 5000 we reaffirm the weakness and fall could accelerate. On the downside below 5000, 4950 will provide support.
