Posted By : Kishore B.S
Today the markets remained resilient and range bound with the indices largely moving between 5180-5230 ranges. The Positive Asian cues after the sell-off yesterday aroused some buying interest due to which the indices managed to close in the Green.
TCS was in the limelight today with the better than expected results which spurted the stock to around 12% to 1205 levels and also helped lift the sentiments for the IT stocks.
Overall the indices have managed to hold the fort AT 5200 mark and has closed at 5224 levels today, giving some hope and respite that the indices might again consolidate in the 5140-5340 range for few more sessions.
After the markets closure today the Euro markets are trading in the Red and if the Dow futures also remain negative in today’s trading then some negative sentiments might trickle in tomorrow making the indices vulnerable to further drift on the downside.
All said and done it would be better for the Indices to decide the direction of the move …… beyond the range of 5140-5340……
(Inputs: Mr. Hemanth V, Faculty TA, Stock Market Institute, Bangalore)