INDIAN MARKETS OPENED IN POSITIVE HOWEVER LATER SLIPPED IN THE RED. AFTERNOON SESSION SAW A SLACK TRADE WITH TRADERS BOOKING PROFIT. INDICES SAW BOTH POSITIVE & NEGATIVE SWINGS SEVERAL TIMES. WEAK GLOBAL CUES COMING FROM EUROPE MADE THE MARKET CLOSE IN RED. NIFTY SHUT SHOP AT 5077.85, DOWN 21.55 POINTS AND SENSEX CLOSED AT 16883.92, DOWN 74.47 POINTS. MARKET BREADTH WAS NEGATIVE AND BOTH MID-CAP & SMALL-CAP INDICES CLOSED POSITIVELY FLAT. PROFIT BOOKING WAS WITNESSED IN ALL SECTORS EXCEPT BANKING, I.T & REALITY.
GOING FORWARD, RBI'S POLICY AND GLOBAL CUES REMAIN THE FOCUS FOR THE MARKET. ALSO CORPORATE RESULTS AND CURRENCY RATE(Rs/$) SHALL BE THE KEY PARAMETERS TO WATCH FOR MARKET DIRECTION. SINCE POOR IIP DATA 4.1%, DESPITE LOWER BASE, SHOWS THAT THE RBI'S POLICY HAS MADE THE GROWTH TO SLOWDOWN, CUES ARE COMING IN THAT RBI MIGHT PAUSE THIS TIME AS THERE ARE SOME SIGNS OF INFLATION TOPPING OUT, HOWEVER IT MAY BE INTERESTING TO WATCH THE DEVELOPMENTS. THE BROAD RANGE FOR THE NIFTY TILL RBI POLICY IS OUT SHALL BE 4840-5230. CLEARLY THE MARKETS MAY INCH HIGHER TO 5230-5330 SOON.
NIFTY HAS CLOSED IN NEGATIVE TODAY, GOING FORWARD THE SUPPORT STANDS AT 5000 AND RESISTANCE AT 5170. CURRENTLY NIFTY IS IN UPTREND IN TERMS OF THE 20 DMA LIES AROUND 4970 AND 40 DMA AROUND 5030, HENCE FOR MARKET TO BECOME WEAK OR GO DOWN NIFTY WILL HAVE TO BREAK 5030 FIRST AND THEN 4970 ALSO, IT WILL BE WEAK AND THE CURRENT RALLY WILL TERMINATE. HOWEVER SHORTS WILL BE GOOD ONLY BELOW 4940. ON THE OTHER HAND IF NIFTY MANAGES TO CLOSE ABOVE 5230 A SHORT TERM UPSWING MAY EXTEND TO 5340-5400 ALSO. IT WILL BE IMPORTANT TO NOTE THAT THESE LEVELS ARE TECHNICAL GUIDANCE, IT DOESN'T MEANS THAT NIFTY WILL GO TO 5400 LEVELS, HOWEVER IT SHOULD BE KEPT IN THE MIND, WHILE ENTERING IN ANY LONG OR SHORT POSITION.
FOR TODAY: NIFTY HAS SUPPORT AT 5020 AND RESISTANCE AT 5110. TRADE SHORT OR LONG IF THE NIFTY BREACHES THE LEVELS.
ASTROLOGICALLY: KINDLY NOTE THAT MY VIEW OF PLANETS AND MARKET STILL REMAINS THE SAME. WE MIGHT SEE SOME GLOBAL TREMORS IN THE LAST 10 DAYS OF OCTOBER OR IN DECEMBER. THERE COULD BE A PANIC LIKE SITUATION IN ASIAN MARKETS. HENCE GREAT DEAL OF CAUTION IS NEEDED AT THIS TIME. MAY BE THE MARKET MAY GIVE GOOD ENTERING OPPORTUNITY LATER.
THERE ARE 30% CHANCE THAT I MAY GO WRONG IN THE ABOVE ASTROLOGICAL ANALYSIS, HENCE USE YOUR OWN WISDOM AND JUDGEMENT AND CONSULT YOUR ADVISER/CONSULTANT BEFORE ACTING ON MY VIEWS.
Safe Harbor Statement:
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.Nothing in this article is, or should be construed as, investment advice.
Disclaimer:
This is neither an offer nor a solicitation to purchase or sell securities. The information and views contained on this blog are believed to be reliable, but no responsibility (or liability) is accepted for errors of fact or opinion. Writers and contributors may be trading in, or have positions in the securities mentioned in their articles. Neither I (Vikas Srivastava) nor any of the contributors accepts any liability arising out of use of the above information/article. Reproduction in whole or in part without written permission is prohibited.
GOING FORWARD, RBI'S POLICY AND GLOBAL CUES REMAIN THE FOCUS FOR THE MARKET. ALSO CORPORATE RESULTS AND CURRENCY RATE(Rs/$) SHALL BE THE KEY PARAMETERS TO WATCH FOR MARKET DIRECTION. SINCE POOR IIP DATA 4.1%, DESPITE LOWER BASE, SHOWS THAT THE RBI'S POLICY HAS MADE THE GROWTH TO SLOWDOWN, CUES ARE COMING IN THAT RBI MIGHT PAUSE THIS TIME AS THERE ARE SOME SIGNS OF INFLATION TOPPING OUT, HOWEVER IT MAY BE INTERESTING TO WATCH THE DEVELOPMENTS. THE BROAD RANGE FOR THE NIFTY TILL RBI POLICY IS OUT SHALL BE 4840-5230. CLEARLY THE MARKETS MAY INCH HIGHER TO 5230-5330 SOON.
NIFTY HAS CLOSED IN NEGATIVE TODAY, GOING FORWARD THE SUPPORT STANDS AT 5000 AND RESISTANCE AT 5170. CURRENTLY NIFTY IS IN UPTREND IN TERMS OF THE 20 DMA LIES AROUND 4970 AND 40 DMA AROUND 5030, HENCE FOR MARKET TO BECOME WEAK OR GO DOWN NIFTY WILL HAVE TO BREAK 5030 FIRST AND THEN 4970 ALSO, IT WILL BE WEAK AND THE CURRENT RALLY WILL TERMINATE. HOWEVER SHORTS WILL BE GOOD ONLY BELOW 4940. ON THE OTHER HAND IF NIFTY MANAGES TO CLOSE ABOVE 5230 A SHORT TERM UPSWING MAY EXTEND TO 5340-5400 ALSO. IT WILL BE IMPORTANT TO NOTE THAT THESE LEVELS ARE TECHNICAL GUIDANCE, IT DOESN'T MEANS THAT NIFTY WILL GO TO 5400 LEVELS, HOWEVER IT SHOULD BE KEPT IN THE MIND, WHILE ENTERING IN ANY LONG OR SHORT POSITION.
FOR TODAY: NIFTY HAS SUPPORT AT 5020 AND RESISTANCE AT 5110. TRADE SHORT OR LONG IF THE NIFTY BREACHES THE LEVELS.
ASTROLOGICALLY: KINDLY NOTE THAT MY VIEW OF PLANETS AND MARKET STILL REMAINS THE SAME. WE MIGHT SEE SOME GLOBAL TREMORS IN THE LAST 10 DAYS OF OCTOBER OR IN DECEMBER. THERE COULD BE A PANIC LIKE SITUATION IN ASIAN MARKETS. HENCE GREAT DEAL OF CAUTION IS NEEDED AT THIS TIME. MAY BE THE MARKET MAY GIVE GOOD ENTERING OPPORTUNITY LATER.
THERE ARE 30% CHANCE THAT I MAY GO WRONG IN THE ABOVE ASTROLOGICAL ANALYSIS, HENCE USE YOUR OWN WISDOM AND JUDGEMENT AND CONSULT YOUR ADVISER/CONSULTANT BEFORE ACTING ON MY VIEWS.
Safe Harbor Statement:
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.Nothing in this article is, or should be construed as, investment advice.
Disclaimer:
This is neither an offer nor a solicitation to purchase or sell securities. The information and views contained on this blog are believed to be reliable, but no responsibility (or liability) is accepted for errors of fact or opinion. Writers and contributors may be trading in, or have positions in the securities mentioned in their articles. Neither I (Vikas Srivastava) nor any of the contributors accepts any liability arising out of use of the above information/article. Reproduction in whole or in part without written permission is prohibited.
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