BRIEF MARKET FORECAST FOR THE DAY

The Markets are expected to open on a moderately lower note again and would likely to hover around the levels of 5730 again and the behavior of the Markets vis-a-vis this levels would decide the trend for today. The intraday trajectory that the Markets forms would be critically important to decide the trend for today. With lack of any positive directional triggers, the Markets may continue to remain in a range like yesterday and trade with moderately downward bias.

All and all, no sustainable up move can be expected until the Markets moves past its previous highs and comfortably maintains levels above 5730-5780. Until then it is likely to continue to remain in a range and thus volatility shall continue to remain ingrained in it. Lack of directional triggers requires to protect profits on either side and remain moderate and selective on new positions.
 
Milan Vaishnav,
Consulting Technical Analyst,
www.MyMoneyPlant.co.in
http://milan-vaishnav.blogspot.com
+91-98250-16331
 
milanvaishnav@mymoneyplant.co.in
milanvaishnav@yahoo.com