Important Events - 24-26 June

It is going to be a tricky week as the data and numbers which propelled the recent Dow rally will hamper it. It is to be seen for how long do the markets stick with the Fed overhang, the news being priced in considerably. Every good news will be seen as a precursor to impending withdrawal of the stimulus.
     The ruling Greece government has become week due to the pull out of a key coalition partner, it now hangs only on 3 votes (153/300) which keeps it afloat. Any tremor from this part will be more damaging, as it will weaken the Euro vis a vis Dollar and a strong dollar will weaken the Indian rupee further - something the markets least want.    
As the Indian markets enter the final week of the June contract, with sharp corrections in Midcaps, the few thing influencing the markets are the movement of the Indian Rupee, FII flow direction (a positive net number at the end of a day, will boost confidence again.) 

Markets are all but sentiments, they react to only those things that they don't expect, the expected never gets the credit, and as they say “The best things in life are unexpected - because there were no expectations.”

It is an old market wisdom, that at any given time the stock markets has already priced in the expected or is on its way to do so, so it becomes very difficult and at times annoying to just follow the news we see everyday, or the experts speaking of expected things because by that time the market is well above the expected the news, event or eventuality. News have become sensationalized and with every next breaking story they unceremoniously dump the previous one, and as they out of sight is out of mind. This is were we are struck by the unexpected, it is there all the time but suddenly it becomes the the influential thing and derails all the current logic.

Lets keep an eye on the unexpected. They say we get hints and clues of the future in every present happening...Indian market being no different!!!