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.
The
Markets have resisted to the levels of 5940-5950 on Friday as it gave
its intraday high of 5949.85 and this levels shall continue to act as
immediate top. The Markets may open on a flat to moderately positive
note but that are all chances that it continues to correct as it remains
"OVERBOUGHT". The RSI on
Daily Charts is 70.25 and it is in "OVERBOUGHT" territory.
Intraday trajectory would be crucial and it is likely that the Markets pares gains after positive opening. Some correction would be imminent to make this current up move healthy and sustainable. No fresh buying is advised at this levels. Continuance of highly cautious outlook is advised for today.
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BRIEF MARKET FORECAST FOR THE DAY
Intraday trajectory would be crucial and it is likely that the Markets pares gains after positive opening. Some correction would be imminent to make this current up move healthy and sustainable. No fresh buying is advised at this levels. Continuance of highly cautious outlook is advised for today.
Milan Vaishnav,
Consulting Technical Analyst,
+91-98250-16331
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