Market likely to extend yesterday's gains on the back of European Central Bank's decision to raise borrowing limits for ailing countries. Petrol price hike though is a negative development which could further stoke inflation. Advance tax numbers though do suggest that the growth in profitability of corporate is still not anything to be majorly concerned about.Monetary policy today will be keenly watched and may set the tone for the immediate future. Use the upside to pare down exposure in the market and wait for the next downturn to resume fresh buying.
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