Markets may open higher: Anagram

According to Anagram Research report,  the sentiment is good and therefore the markets are slated to open higher.

Anagram Research report:

The change in the inflation data announcement timing has augured well for the markets as it has come lower than expected. The news is accompanied by another large slide in Crude with an added backdrop of  a 207 point surge in the Dow, which should enthrall the markets. Over all the sentiment is good and therefore the markets are slated to open higher.

In this environment, there would be temptation to buy things. Don’t add more. Instead of that take advantage of the buoyancy and book partial profits in trading positions and protect the rest with stop losses. A look at the derivatives data tells you that it has so far been a short covering game. No real positions have been added in the large caps to indicate that the big boys are sanguine on the recent uptrend. Google, Microsoft and Merrill showed poor quarterly slates after the markets and spoiled the environment. From Monday, we too will go into a cautious mode ahead of the vote on Tuesday. So booking of profits ahead of the vote may not be such a bad idea.

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