Now the desk is cleared for the formation of JPC and budget session will begin today. With no major expectation from the budget expect the unexpected. And the most important thing since the government is cornered by all sides this is the last weapon for UPA to pull the rabbit out of the hat. The seasoned war horse PRANAB DA is the master of this trade. So fasten your seat belts for a profitable ride ahead.
The much hyped EGYPT crises fizzled out, but the bigger crises spread in almost all the middle-east countries. This will affect the world crude supplies and economies in general. This is the February expiry week. Hence expect the unexpected volatility.
So wait in the sidelines for cherry picking in stocks is advised to make some quick buck. Domestically slowing of rising inflation and satisfactory corporate results will provide market boost in the short?term.
So be stock specific in this week’s trading strategy. MARKET today will open flat and remain choppy in the first half. It will become volatile in the second half and face technical resistance at 5535, 5580 and support at 5440, 5400. The end session today will result in volatile market.