Friday, December 7, 2012

Daily Market Trend Guide -- Friday, December 07, 2012

Due to technical glitch, we have not been able to publish your copy of Daily Market Trend Guide in regular PDF Format.However, we are reproducing the same in as a brief forecast. Inconvenience caused is sincerely regretted.
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BRIEF MARKET FORECAST FOR THE DAY

The Markets are expected to open on a moderately positive note again, but it needs to be noted that it remains extremely "OVERBOUGHT". The opening and the behavior of the Markets would  be critical and it would be important to see if sustains above the levels of 5930-5950 levels which continues to be the key resistance.

We strongly recommend to stay away from aggressive buying as even if the Markets attempt to break out on the upside, it is "OVERBOUGHT" and such rise would not be healthy without a correction, which stands overdue and imminent. There are bright chances that we may see the Markets paring gains after a positive opening. Any upside would not sustain with such "OVERBOUGHT" lead indicators. While avoiding any fresh buys, ultra caution is advised for today.

Milan Vaishnav,
Consulting Technical Analyst,
+91-98250-16331
 

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