Shaky global cues!

In the field of observation, chance favors only the prepared mind. - Louis Pasteur.

As expected, the euphoria surrounding new leadership in Greece and Italy has been short-lived. World equities are mostly down as yields on Italian and Spanish bonds reflect persistent fears over the precarious fiscal health of the eurozone.

Despite the recent political response, doubts prevail over the ability of the eurozone leaders to quickly deal with the credit crisis. Investors are likely to remain wary until they see clear signs of the measures taking effect.

Technically, markets around the globe continue to consolidate after October's big gains. The start today will be more sedate owing to shaky global cues. Asian markets are subdued following weak finishes on Wall Street and European markets.

Euro-zone industrial production slipped 2% in September from the previous month. Data on Q3 GDP growth in Germany and the eurozone will be released on Tuesday. Investors will also be tuned into data on US retail sales and PPI.

Back home, earnings may remain in the spotlight with Tech Mahindra being the only top company declaring results today. We expect Indian indices to remain rangebound and choppy. The Nifty might trade between 5075 and 5185.