Volatility is likely to be the order of the day as markets grapple with higher inflation, a rebound in crude prices and mixed global cues. The wholesale price index, scheduled to be announced post market hours Thursday, is forecast to have risen 12.63 per cent in the week to Aug 9 compared with 12.44 per cent.
Intraday, resistance in rallies is at 4460-4482 and 4519 points in an optimistic scenario. Crucial support is at 4375-4390 points; a decisive breach of it would turn the odds in the favour of bears. Currently, the indices are oscillating in a narrow range with some stock specific moves. Range expansion is likely in the coming days
Thursday, August 21, 2008
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