The Nifty is likely to trade...

The Nifty is likely to trade in a range in the near term unless of course the government try out some positive surprises.

The glum mood over the GAAR issue could well take a backseat as the Government is all set to resolve outstanding tax issues in the next couple of weeks. So despite less greenery in the global markets our main indices are looking at a smiling start.

Another positive development is crude oil remains lower and petrol prices have been scaled down by Rs 2.46 per litre. Any further positive news on the policy front could keep the momentum going for a while. Problems confronting the eurozone remain the biggest risk.

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