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BRIEF MARKET FORECAST FOR THE DAY -- WEDNESDAY, APRIL 29, 2015
The
Markets snapped its losing streak yesterday and ended the day with
gains while holding on to its 200-DMA at Close levels. Today as well,
the Markets are likely to open on a flat note and look for directions.
For the Markets to continue with its attempt to pullback, it will have
to maintain levels above of 200-DMA and therefore, this level would be
critical to watch out for.
The
RSI on the Daily Chart stands at 35.7088 and it remains neutral and
Daily MACD remains bearish trading below its signal line. While the
Markets take a directional call, it is likely to continue to remain
volatile especially given the last two days of expiry of the current
series. Volatility is likely to stay and we will continue to see
intermittent bouts from higher levels. More emphasis should be given on
maintaining liquidity but very selective purchases may be made while
maintaining highly cautious outlook on the Markets.
Milan Vaishnav,
Consulting Technical Analyst,
Af. Member: Market Technicians Association (MTA), USA
Af. Member: Association of Technical Market Analysts, INDIA
www.MyMoneyPlant.co.in
Af. Member: Market Technicians Association (MTA), USA
Af. Member: Association of Technical Market Analysts, INDIA
www.MyMoneyPlant.co.in
+91-98250-16331
I am visiting your blog daily, giving briefly market forecast , market is bullish or bearish good advice.
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