Expect markets to remain in a range: India Infoline

According to India Infoline Daily Market Watch, the market would remain in a range with stock specific action.

India Infoline Daily Market Watch:

Bulls made a strong come back on Friday after getting bruised and battered on Thursday. They shrugged off 13-year high inflation numbers as gains in R Com, L&T, ICICI Bank and HDFC led to the Sensex recording a triple ton.

The bulls would certainly hope for some stability after a volatile week. There have been several instances in the past when the market has ignored high inflation figures and charted its own course only to correct in the following session. Friday's advance had some backing of FIIs. Provisional figures showed net buying. The overall mood remains cautious. Today, we expect Friday’s bullish momentum to spill over. The market would thereafter remain in a range with stock specific action.

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