Fast and furious!

Fasting is the single greatest natural healing therapy. It is nature’s ancient, universal 'remedy' for many problems.- Elson Haas

There is no healing but only hurt which is more than evident from the speed at which fasts take place. Due to denial of permission, it's not Jantar Mantar for Anna Hazare this time and the action shifts to Rajghat.



The main Indian indices managed to stay afloat thanks to some value buying in blue chips, especially RIL and Infosys. Realty and refinery counters were also firm.

FII numbers have been encouraging for June and a lot of attention is being given to the mid-cap space too. Some follow-on buying may be seen at start. With global markets in the red, the Indian market will have a task at hand to maintain the slight upmove.

The US indices pared most of its gains after Federal Reserve chairman Ben Bernanke uttered confirmations of gloom. Economic growth has been below its potential, he admitted adding that the second half of 2011 should see a recovery. Nothing was heard on QE3.

Asian markets are trading in the negative terrain. The Nikkei index in Japan is down 0.4%, Hang Seng in Hong Kong has slipped 1% and Shanghai SE Composite in China has declined by 1%.

With the Nifty widely expected to remain in a range of a few hundred points this expiry, the temptation would be to jump into short term option strategies. Instead adopt a cautious approach in selective buying in the sound mid-cap and large cap space.

Bank borrowings have been on the rise in anticipation of liquidity requirement on account of advance tax. Some see it as an indication of firming up of rates when the RBI meets for its policy review on June 16.