Markets are likely to hold on to th 5100 levels except for a small weak dip as the Dollar opens to 56.14 on the July series and dropping like nine pins on the pre open session. Great earnings led by unilever India are unlikely to be derailed by a 6.6% rise in Net Profit at Wipro being below estimates.
The rest of the week is banking high and heavy and expiry should thu survive except if there is still some fresh shorts. Buying in individual scrips might happen for a n early start in August today and tomorrow. Reform expectations have tempered. Earnings expectation scan still lead to sittuations like for McDonalds in Monday trading as it fell after growing 3.7% on same store sales with news on a Chinese slowdown. The Chinese manufacturing PMI has recovered in the meantime to a six month high of 49.5
Buy on AXISBANK and SBI are back though some at ETNOW are using a sell call on SBI to aid a fall based on probably the lock out at Maruti As susual Sudershan Sukhani has the inside track on my picks with ZEE Ent good results apparently
FDI in retail seems on the doorstep. Market wide position limits have been raised by three times to avoid a single market maker or market makers locking up the scrips. Qualifying criteria for new F&O listings have focussed on raising the bar on liquidity and performance