Our support holds

The US markets opened weak and the weakness continued for the first 30 minutes. And guess where it took support?

At 13400, which we had previously mentioned as the support to watch out for.The DOW hit 13398 before recovering from there to close at 13545. The support to watch out for is 13400 and if it holds up, we could cross the previous high at 13750.

The Blackstone IPO will debut tomorrow and going by the demand(notwithstanding the bad news surrounding it) it should do well.

India:
Though we closed at 13499, almost up 100points, we might see some weakness today. The support to watch out for is 14300. If 14300 holds, we should be on the way to 15000 over the next couple of weeks. We will continue to monitor the market for any topping signs.

The 2 sectors to watch out for over the next few dats are Reality(DLF IPO) and Banking(ICICI IPO).