>Daily Market Preview (Marwadi Financial)

* Asia is trading positive this morning on the back of smart recovery in the US
markets. Better monthly sales number by the Retailers, helped the US post a
smart positive close after the fall on the day before. Markets are reacting on
day-to-day news – but are not able to move out of the band in which the
benchmark indices are stuck. Risk aversion continues, breakout is still far.

* We believe that Indian markets will show some bounce in the opening
session however Nifty will have to surpass and trade above 2830 to sustain
its recovery. We advise to stay away from trading – ideally wait for a
breakout. PSU Banks, Pharma and Metal leaders look good but any buying
will test conviction .

To see full report: Market Preview 5-02-2009