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
analysis for today remains more or less same as that of yesterday.
Expect the Markets to open again on flat to mildly positive note and
look for directions. The Markets came off nearly 80-odd points from
day's high which clearly indicates the levels of 5950 shall continue to
act as immediate top.
The RSI on the Daily Chart is 66.4854 and it neutral as it shows no bullish or bearish divergence or failure swings. Having said this, we once again reiterate that until the markets move past the levels of 5950, no sustainable up move shall occur. Until then, the Markets may continue to trade in a capped range and also remain little volatile. While protecting profits on either side, cautious approach is advised to be continued. Only selective and not aggressive purchases should be made.
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BRIEF MARKET FORECAST FOR THE
DAY
The RSI on the Daily Chart is 66.4854 and it neutral as it shows no bullish or bearish divergence or failure swings. Having said this, we once again reiterate that until the markets move past the levels of 5950, no sustainable up move shall occur. Until then, the Markets may continue to trade in a capped range and also remain little volatile. While protecting profits on either side, cautious approach is advised to be continued. Only selective and not aggressive purchases should be made.
Milan Vaishnav,
Consulting Technical Analyst,
+91-98250-16331
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