Bank Nifty struggled a wee bit at the highs while the Nifty did well. Long liquidation seen in Bank Nifty and some pvt bank stocks. So, more stalling ahead? Nifty chart was a Doji and continuation higher would shift the game there. Nifty next50 is even more bullish. Midcap Nifty is still the most bullish. So, market moving along expected lines. Financials ADR were seen sliding while IT stocks, that were in play yesterday, were seen strong in their ADRs. So looks like some sector shift towards IT is going on and it should spill over today. There are a bunch of stocks from the IT space that are due out with their results today. If in sum, their performances are not good enough, then the prices will peel off, since the prices are already moving ahead of the numbers.

Dollar is rallying off the dip below 100 on the Dxy. But its trend on the charts is clearly downward. So, rallies will meet with selling by currency traders. US10y bonds spiked a bit again and this may create issues if it persists. But Crude taking a dive again should be a bit of relief. Gold cracked on talks of Trump thawing on China front and for possible favorable meetings with allies like India and Japan. If Dow rally continues, then Gold could tumble further.

Nifty needs some big weights to carry it higher. Reliance could likely get into play here. Above 1300 it is a buy. IT has a trigger for today but lets see what happens to it. Fmcg biggies may chip in with some gains and so Hind Unilever should be watched for action. Same for Bharti.