The market is running nowhere as yet. Most Asian markets are up this morning; which means the Indian market will also see a higher start. Stay away from "risky" Small-Caps and Mid-Cap stocks and from sectors facing severe headwinds. Watch out for the latest IIP data to be released on Friday. The upswing may continue with 5900 acting as near term support. Overall, the trading range on the Nifty is expected to be 5800-6200. But don’t be in a hurry to make your purchases.
This week is a bit light in terms of global economic data though central banks in the UK, Australia, Canada and South Korea are scheduled to take up their policy reviews. China is scheduled to come out with its latest trade data later this week.
US stocks rose marginally on Friday to end the week up as Wall Street overlooked a weaker-than-expected monthly jobs report. Investors focused on what favorable policy decisions might be triggered by the disappointing unemployment numbers.
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