We
have not been able to come up with regular edition of Daily Market
Trend Guide in PDF Format. We reproduce Market Forecast for the Day in
brief below. Inconvenience caused is sincerely regretted.
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BRIEF MARKET FORECAST FOR THE DAY
The Markets yesterday saw a initial decline after opening on a stronger note and in the mid afternoon trade saw itself trading well below the critical levels of 7500. However, the second half saw a sharp recovery coming in and the markets finally ended the day above its critical levels of 7500.
For today, expect the Markets to open on a mildly positive note and continue with its up move. The Markets have entered the trading range again and so long as it maintains the levels above of 7500, weakness is not likely to creep it.
For today, the levels of 7540 and 7565 would act as immediate resistance for the Markets. The support exists at 7500 levels. Any dip below this will once again induce some weakness in the Markets.
All and all, so long as the Markets maintains levels above of 7500, very selective purchases may be made while vigilantly protecting profits at higher levels. While maintaining liquidity cautious optimism is advised so long as Markets maintains levels above of 7500.
Milan Vaishnav,
Consulting Technical Analyst,
+91-98250-16331
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