GOOD MORNING!!!
INDIAN MARKETS GOT RUINED ON LATE SELL-OFF WHICH GOT TRIGGERED BY WEAK EUROPEAN EQUITIES, THE MARKETS THAT WERE TRADING WITH STEADY GAINS TILL LATE AFTERNOON, SUDDENLY SAW HEAVY SELLING PRESSURE LED BY REALTY, METAL AND OIL & GAS SHARES. MARKETS TRADED IN POSITIVE TERRAIN TILL AFTERNOON TRADE TILL THE SELL OFF RALLY CAME TRACKING EUROPEAN MARKETS IT OSCILLATED IN A NARROW RANGE TILL AFTERNOON. ALL IN ALL THE BREADTH OF THE MARKET SLIPPED FROM POSITIVE ZONE TO NEGATIVE ZONE IN THE LAST ONE HOUR OF TRADE.
TODAY NIFTY LIKELY TO OPEN FLAT AND REMAIN IN RANGE BOUND. NIFTY TOOK GREAT SUPPORT AT 4950 WHICH IS VERY CRUCIAL LEVEL IN THE VERY NEAR TERM. ONE CAN HAS TO THINK OF SHORTS ONLY IF NIFTY BREACHES 4950 AND TRADES UNTIL THEN ONE HAS TO REMAIN CAUTIOUS. TODAY IF NIFTY TRADES BELOW 4950 THEN LIKELY TO DIP DOWN TO 4900 AND BREACH BELOW THIS LEVEL WOULD TAKE NIFTY TO 4860 AND ANY CLOSE BELOW 4900 IS LIKLEY TO WITNESS LOT OF SELLING PRESSURE ALONG WITH FRESH SHORTS INITIATING AT THAT LEVEL AND BEARS WOULD CAPTIVATE MARKETS MORE AGGRESSIVELY NO SOONER NIFTY BREACHES 4900 LEVELS. ON THE POSITIVE SIDE IF NIFTY TRADE ABOVE 5000 ONE IS ADVISED TO GO LONG UNTIL THEN STAY SHORT OR AWAY FROM THE MARKETS IF NIFTY CLOSES ABOVE 5000 MARK THEN ONE CAN INITIATE LONGS TO CERTAIN EXTENT AS MARKETS ARE ON HIGH PRESSURE FROM EUROPEAN AND OTHER ECONOMIES IT IS WISE TO TRADE LESS AND STAY ON CASH.
INDIAN MARKETS GOT RUINED ON LATE SELL-OFF WHICH GOT TRIGGERED BY WEAK EUROPEAN EQUITIES, THE MARKETS THAT WERE TRADING WITH STEADY GAINS TILL LATE AFTERNOON, SUDDENLY SAW HEAVY SELLING PRESSURE LED BY REALTY, METAL AND OIL & GAS SHARES. MARKETS TRADED IN POSITIVE TERRAIN TILL AFTERNOON TRADE TILL THE SELL OFF RALLY CAME TRACKING EUROPEAN MARKETS IT OSCILLATED IN A NARROW RANGE TILL AFTERNOON. ALL IN ALL THE BREADTH OF THE MARKET SLIPPED FROM POSITIVE ZONE TO NEGATIVE ZONE IN THE LAST ONE HOUR OF TRADE.
TODAY NIFTY LIKELY TO OPEN FLAT AND REMAIN IN RANGE BOUND. NIFTY TOOK GREAT SUPPORT AT 4950 WHICH IS VERY CRUCIAL LEVEL IN THE VERY NEAR TERM. ONE CAN HAS TO THINK OF SHORTS ONLY IF NIFTY BREACHES 4950 AND TRADES UNTIL THEN ONE HAS TO REMAIN CAUTIOUS. TODAY IF NIFTY TRADES BELOW 4950 THEN LIKELY TO DIP DOWN TO 4900 AND BREACH BELOW THIS LEVEL WOULD TAKE NIFTY TO 4860 AND ANY CLOSE BELOW 4900 IS LIKLEY TO WITNESS LOT OF SELLING PRESSURE ALONG WITH FRESH SHORTS INITIATING AT THAT LEVEL AND BEARS WOULD CAPTIVATE MARKETS MORE AGGRESSIVELY NO SOONER NIFTY BREACHES 4900 LEVELS. ON THE POSITIVE SIDE IF NIFTY TRADE ABOVE 5000 ONE IS ADVISED TO GO LONG UNTIL THEN STAY SHORT OR AWAY FROM THE MARKETS IF NIFTY CLOSES ABOVE 5000 MARK THEN ONE CAN INITIATE LONGS TO CERTAIN EXTENT AS MARKETS ARE ON HIGH PRESSURE FROM EUROPEAN AND OTHER ECONOMIES IT IS WISE TO TRADE LESS AND STAY ON CASH.
NO RECOS FOR THE DAY
