No doubt, fundamentals of our markets are good but our markets can't ignore effect of global negative news or even inflation fears on itself.
Nifty should find it difficult to cross 5400 this week. On Monday, it saw levels of around 5350 only to give up all its gains on tuesday to currently quote around 5250. I had already warned of violet moves in my monthly report and that is exactly what we are seeing today.
5200 is likely to be tested by tomorrow and markets should revolve around 5200 for rest of the week. I expect markets to move 100 point up or down around 5200 for remaining 3 sessions which gives us a range of 5100-5300.
I believe one should look at side counters where results are expected to be good like Auto, Fertilizers while interest rate sensitives like Reality and Banking should be shorted at all higher levels.
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