It's been a range-bound yet sluggish session for the market today. It's just been gyrating around 5200, and has not made much headway on either side. Nifty seems to be rather consolidating after the losses of the last couple of days, even as global markets trend sideways today.
We have had two consecutive days on the trough. The market has pretty much priced in the election result, and today, we have just fallen into a bit of a trading range. Volumes have drifted down quite a bit from yesterday as well.
Now, it awaits the other two big events of the policy and the budget, and there is no great urgency for the market to move in any great direction. Remember, the correction has not been too modest either from 5600 plus to 5200 (We have corrected 450 points from 5630 to 5180). So a fair bit of the pricing in has happened.
If the budget disappoints and on the monetary policy also we don
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