BRIEF MARKET FORECAST FOR TODAY - October 26, 2012
Markets are expected to open on a weaker note and is likely to see a sluggish
trade initially in the session. Though intraday trajectory would continue to
dominate the trend for today, the levels of 5730 shall continue to act as major
resistance followed by 5800 later. No sustainable up move is likely to occur
until the Markets moves past these levels. Overall, with continuing sideward
movement, the overall bias still remains on the downside, though intermittent
pullbacks in form of short covering may be seen. Overall, continuance of
cautious outlook is advised for today.
Milan Vaishnav,
Consulting Technical Analyst,
+91-98250-16331
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