Up Today

Expect the BSE to move in a range of 16,400 to 16,700 today with an upward bias. The NSE should do well in staying near the 4,950 area, though nibbling at 5,000 briefly is a possibility. The cues from US and Asia are very positive and point towards a steady rally up in the days to come. Seems like my expectation of the BSE doing sub 14,000 is not likely so soon. But you never know.....The next negative cue may take the markets down again.