MARKET OUTLOOK

It was a boring week as far as the stock movement was concerned. After the excitement of Budget, it was
back to basics as indices consolidated in an extremely narrow range. Nifty’s movement was confined to only
about 50 points and that’s hardly 1% intra-week range. Significantly markets are consolidating at the higher
end of the trading range of past 4-5 weeks and that suggests inherent bullishness. March is usually a
sideways or negative month as domestic liquidity dries on account of year ending adjustments. So, a
sideways move on the higher side signifies strong undercurrent and we might see a strong up move once we
are through with current financial year. FIIs continue to pour in a lot of liquidity and that would keep bulls
interested. Domestic insurance companies usually garner large amount of premiums during Jan to March