GOOD MORNING!!!
TRACKING THE STRONG GLOBAL CUES, INDIAN MARKETS HAVE EDGED HIGHER IN THE OPENING AND COULDN’T CONTINUE THE MOMENTUM AND AT EVERY RISE WE HAVE WITNESSED SOME PROFIT BOOKING IN THE MARKETS AND IN THE MID AFTERNOON MARKETS SLID AND TURNED NEGATIVE BUT SOON AFTER EUROPE EDGED HIGHER MARKETS HAVE REGAINED THE MOMENTUM AND TURNED POSITIVE AND WAS COMPLETELY ON THE NARROW RANGE BOUND AND FINALLY MANAGED TO CLOSE ABOVE THE PREVIOUS CLOSE BY 11 POINTS. TODAY IT SECTOR ALONG WITH AUTO AND CONSUMER DURABLES WERE ON THE POSITIVE TRACK, METALS HAVE ALSO SUPPORTED THE MARKETS.
TODAY MARKETS MAY BE SIDEWAYS AND COULD REMAIN IN A RANGE BOUND FOR SOMETIME AND IF NIFTY TRADES IN A NARROW RANGE THEN IT IS A HEALTHY SIGN FOR THE MARKETS IN THE COMING DAYS. ON THE LEVELS WISE IF NIFTY TRADES BELOW 5200 ONCE CAN SEE NIFTY TO SLIDE DOWN TO 5164 LEVELS AND BREAK BELOW THIS LEVELS WOULD TAKE NIFTY TO 5124 AND ANY BREAK BELOW THIS LEVELS WOULD BE NEGATIVE FOR THE MARKETS AND ON THE POSITIVE SIDE IF NIFTY TRADES ABOVE 5250 THEN LIKELY TO SEE NIFTY TO MOVE UP TO 5300 AND ANY BREAK ABOVE THIS POINT WOULD TAKE NIFTY TO ANOTHER NEW HIGHS OF THE YEAR.
NO RECOS FOR THE DAY
