Stronger dollar means pressure on metals and crude oil prices and that will abate in these stocks in our markets. Oil exploration and Metals are likely to be the hardest hit. Dell has reported lower than expected earnings after market hours and that does not augur well for tech stocks today.
Markets are increasingly finding difficult to go over 5000-5100 range. Only beyond 5100 we can expect a decent rally. Foreigners have short sold stocks and
futures approximately worth 1400 cr. yesterday. We would advice traders not to indulge in bottom fishing today, and wait for markets to exhibit sustained
strength. Traders should look to switch away from Metals,Cement,Telecom to Pharmaceuticals and Construction space on declines.
