Where Now?

Oil touched a six week low and is currently sub 130. The Dow is perhaps stabilised just above 11,000. The market cues though not positive yet, are not overtly negative too. That the Nasdaq closed friday in the negative may indicate a tough day for the IT stock in particular, and the current political impasse. But overall, the current market sentiment seems to be positive.

Expect the markets to open on a positive note. Crossing 14,000 is not ruled out for the BSE. The closure also should be near 14,000 and possibly above it. The Nifty should also open near 4,160 and close near the 4,200 mark. The stocks to take a beating will be IT and the ones to go long indeed are Banking ones. Oil will also see a heavy interest, though overall market may remain subdued in terms of volume for the day. A clearer signal may be had tommorow at the parliament.