Next Triggers for Stockmarkets

January 11th will mark the beginning of the earnings seasons with Infy declaring its Q3 results. But the next big trigger would be the RBI monetary policy review when it is expected to cut rates. This will happen sometime in the third week of January.
In February indications will start coming in about the budget plans of the Government and finally on February 28, FM will reveal the last budget of the UPA2 which could be populist keeping elections in mind, and could spark a sharp rally in the markets. But Investors need to be cautious because if the fiscal deficit targets are not met the rally will be short lived. Expect volatility to continue.
End February is also when US is expected to hit the debt ceiling. Any spending cuts even though they are carefully thought out will affect Government jobs leading to reduced consumer spending and therefore GDP growth in US will decline marginally for a couple of Quarters before it strengthens in the second half of 2013. But it will remain a stock pickers market and there would be upside in well managed banks, rate sensitives like auto and even the IT sector but selectively.