India Morning Report: Markets hope to close below 8500?

From where I stand, the next week seems more important to traders right now, so instead of a closing out on a good note sentiment, the markets should prefer to close at near bottoms as the two days of post poolicy trading have been nudging downwards, leaving some unfinished business before stocks start their upward march next week to new 8750 and 9000 marks or the first 30000 for the omnipotent sensex.

Bajaj Auto seems likely to join the up tick from 2500 levels with new launches and return of normalcy in exports probably required before the ticker trends back up. Bharti’s strongarm ways as the incumbent operator mkeep it on watch even as they seem to have more options in which they keep their paid spectrum at old rates and when they are asked to pay a difference the strain will show on the stock price.

ITC is back up with consumer brands and the good old tobacco business making a splash SBI is still at pre policy highs and IDFC is actually good for more buying and of course markets as indicated in the call auction, may still prefer to come back atoday and tomorrow to pre policy jitters with RBI having upgraded their policy stance in time for the recovered economy to boost credit at a 4% inflation target in the long term


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