Thursday, December 6, 2012

Daily Market Trend Guide -- Thursday, December 06, 2012

BRIEF MARKET FORECAST FOR THE DAY

Expect the Markets to open on a moderately positive note today. However, even with the Retail FDI issue sailing through the Loksabha in the distasteful manner, the Markets are still likely to remain in a range and continue to resist to its key resistance levels of 5940-5950 levels.

The lead indicators remain OVERBOUGHT. This overbought condition of the  Markets shall keep the Markets away from moving past 5940-5950 levels. Until these levels are breached, sustainable up move shall not occur. In the present OVERBOUGHT conditions, aggressive longs should be avoided. Continuance of cautious outlook is advised. Chances of Markets paring some gains cannot be ruled out
 
Milan Vaishnav,
Consulting Technical Analyst,
+91-98250-16331
 

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.