India Morning Report: FIIs buying index spreads again

So, any limiting range of the market is surely just a sign of accumulation for the series trend and that is definitely up from 7500 till at least 7800. One should get used t o a mild worry on the WPI as India inc is not really working on 5% WPI assumptions and the continued lows may be welcome however any misstep would not be counted as dangerous at this stage. The downtick in Oil helps as Petrol at the pump gets cheaper and CPI stays down from the last June figure and WPI will stay low and ease in to the festive season when one must again watch for a spike instead of the growth in GDP expected

Adani in the meantime is moving into Power with a big buy in Karnataka/Maha on the western coastline. Banknifty is looking meaty sat 14800 but will probably trace back to 14650 before striking up on the rebound, even as Dabur and Marico take up the unexpected rally slack , the market finally settling down from the heady pre poll pace and midcap buzz not unnecessarily spooking the markets

 ONGC and Tata Steel underperformance was on expected lines absorbing longer term costs and seasonal demand variations, still reporting good sales



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