GOOD MORNING!!!
MARKETS GOT OFF TO A GAP DOWN START AS INVESTORS SQUARED OFF POSITIONS TRACKING DISCOURAGING LEADS FROM THE OVERNIGHT US MARKETS THOUGH THERE WAS SOME SENSE OF RECOVERY SEEN IN THE MARKETS WHICH WAS VERY SHORT LIVED AFTER THE KEY POLICY RATES HIT THE STREETS INVESTORS HAVE OPTED TO TAKE PROFITS OFF THE TABLE FROM RATE SENSITIVE SECTORS LIKE BANKS, AUTO AND REALTY. THE BOURSES AFTER TOUCHING INTRADAY LOWS IN THE DYING HOURS PARED SOME PORTION OF DECLINE TO EVENTUALLY SETTLE WITH LOSSES OF OVER A PERCENT. MARKETS CARRIED FORWARD THIS WEEK’S TREND OF CLOSING IN THE NEGATIVE TERRITORY AFTER EVERY POSITIVE CLOSE, WHICH HAS MADE INVESTORS FEEL VERY INSECURE.
TODAY MARKETS WOULD BE VERY RANGE BOUND AND VOLATILE. IF NIFTY TRADES ABOVE 5490 THEN LIKELY TO MAKE AN UPMOVE TO 5518 LEVELS AND ANY TRADE ABOVE THIS POINT WOULD TAKE NIFTY TO 5540 LEVELS. ON THE FLIP SIDE IF NIFTY TRADES BELOW 5440 LEVELS THEN CAN DRAG NIFTY DOWN TO 5420 AND THEN TO 5394 LEVELS ANY TRADE BELOW 5400 IS CONSIDERED TO BE VERY WEAK AND CLOSE BELOW 5400 CAN LEAD NIFTY TO 5170 LEVELS.
