Yesterday the markets were just amazing beating all the expectations of a downfall after the lacklustre performance on Friday inspite of the spectacular INFY results. The same was supported yesterday though after the lower than expected Inflation numbers surprised the streets fuelling the participants of some relief through rate cuts by the RBI later this month.
The technical charts yesterday gave earlier signs of breakout though the same needs to be confirmed today by the Indices by closing above the 6030 mark for conservative target of the 6118 levels.
At this given point of time most of the stocks are displaying huge swings due to the results season in progress and it would be best advisable to remain stock specific with little focus on the Index itself.
Though the current results season has kick started with a bang results from the INFY and the TCS yet it remains to be watched out, if the same would be in reinforced by the other sectors as well in the days to come.
And as the charts are saying the upside seems to be conservative and hence the best option for the participants would be to remain largely stock specific and take informed decisions with the safe option being to trade in individual stock options……
Inputs: Mr. Hemanth.V, Faculty TA, Stock Market Institute – Bangalore)