Watch out for Friday the 13th
With the results season kicking off from next week and the undertone still weak, investors should be careful. The trend is likely to remain lackluster ahead of the Infosys results on April 13. Software firms are likely to be impacted by the rupee's surge against the dollar. A lot will hinge on the guidance given by the IT major, as TCS doesn't provide any outlook. Till then, the market may remain range bound and choppy depending on the global cues. We maintain our stance that there is more downside risk to the market than upside given the string of monetary tightening measures in a short span of time. Also, global factors like the health of the US economy, Chinese' Government's efforts to engineer a smooth landing and the "carry trades" will continue to play a role in our markets. Oil is another factor one has to keep an eye on. Though the bulls managed to fight their way back this week after a depressing start, all's still not well. The current volatility is here to stay, at least for the next couple of months. Against this background, being selective and keeping cash handy could pay rich dividends.