Election expectations to determine market movement
The drivers this week would bemainly local drivers and political overtures and body language could bekey indicators. Poll pitch has increased and posturing has begun and bythis time next week the results would also be out.
Though people havestarted commenting that elections are a non event, the fact of thematter is that elections alone would be dominating markets this week.As mentioned earlier people are more bullish than bearish and for thisvery reason I would advise not only caution but also buying insurancein the form of puts for the current month.
As mentioned last weektrading may become lackluster before the actual results, but volatilityincrease. My advice be cautious and use rallies to exit and sharp dipsto buy. More