Brief Market Forecast:
For today, expect mildly
positive opening in the Markets but at the same time, Markets
continue to remain deeply OVERBOUGHT with continuing BEARISH
DIVERGENCE on the Daily Charts. Therefore, since this is driven by
sheer liquidity, retail investors are very strongly advised to
refrain from fresh buys. The Markets are overdue for some correction
and with purchases at current levels, there are very strong chances
that one gets trapped at higher levels.
Overall, continuance of
very cautious outlook is advised for today.
Milan Vaishnav,
Consulting Technical Analyst,
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