NIFTY view

Nifty has found a good support at 5300. Reading RSI, MACD and ADX we realize that market is expecting a gradual rise in the index.  Overall sentiment is positive within the trading range of 5300 and recent highs. This is a text book situation of 'buy on dips'.

Jan Lokpal bill is likely to be the first change effected by interaction with civil society. Our political leaders think that once they are voted to power they need not take any suggestions from the citizens, the real masters of this nation.  Anna Hazare's fast and the whole-hearted support by youth speaks well of the assertive nature of the citizens. No political party can afford to ignore it.

Result season is ahead of us. Infosys has tanked by 10% because their original team is gradually leaving. Let  us see how HDFC, HDFC Bank and Larsen perform. That should decide the next move of the index.

rgds
Vibhas