Market likely to open higher: Anagram

According to Anagram Market report, the markets are likely to open higher on account of the preholiday surge seen by the Dow, which downed the shutters at 1 pm to enable the marketmen to enjoy their Independence day holiday.

Anagram Market report:

The markets are likely to open higher on account of the preholiday surge seen by the Dow, which downed the shutters at 1 pm to enable the marketmen to enjoy their Independence day holiday. The ECB hiked rates by 0.25% in the eurozone, but spared the markets from any hawkish comments, allowing the Euro to cool after the expected hike had come.

Today we get on to our weekly chore of inflation gazing. So irrespective of how much the markets gain in the opening hour, they are likely to dip into negative territory before the numbers. As long as Crude is above $130, where is the need to look at these inflation rates?  If you are thinking that Euro could weaken vis-a vis the dollar, now that the expected hike is in the rear view mirror, you may be right. But don't expect that to translate into a weaker crude immediately. Bartha, the second tropical storm of the season was born in the eastern part of the North Atlantic yesterday, which could keep Crude buoyant till the weathermen tell us that it is not going into the Gulf of Mexico to say hello to the numerous oil platforms located there. Get bearish if the 12800 in the Sensex  or the 3840 level in the Nifty breaks.