Money Tree

Markets are expected to remain range bound. The earning season has been very good, with good numbers from Infosys and Wipro but markets are yet to find a direction. They seem to be consolidating at this level ahead of expiry of futures contracts on thursday. Financial Institutions like IFCI, IDBI and IDFC have run up quite a bit and now seem to have toped out. We recommend selling IFCI at Rs. 26-27 levels and IDBI at around Rs. 100 levels.