Market has tested the 20% circuit filter in the initial hours. Due to this reason both exchanges closed for entire day. In the pre market section most of the ADR stocks started trading 15 to 25%higher than the Friday’s closing. Today’s strong move was unexpected, but the low volumes indicate un-sustainability at higher levels. For Nifty 4500-4550 levels are very crucial. If there is a profit booking then it may fall towards 4100 levels.
Morgan Stanley ups India to overweight for the first time in country portfolio model.
Midcap public sector stocks are in good demand. The same trend may continue for some more time.
Rupee started appreciating. May be it may revisit its early highs, on expectation of high FII inflow.
