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BRIEF MARKET FORECAST FOR TODAY
Markets are expected to open on a mildly positive note today and we may see them trade positive at least in the initial trade. The Markets resisted yesterday to the levels of 5950 and the levels of 100DMA levels which is 5961 today. Both of these levels are likely to continue to act as resistance today. The Markets will have to move past these levels for sustainable up move.
All and all, until these levels are broken on the upside and the Markets moves past them, we will continue to see it consolidating in the manner we say yesterday adding some amount of volatility to the trade. Overall while strictly avoiding shorts, it is advised to have very selective approach to the Markets. Overall, cautious outlook is advised for today.
Milan Vaishnav,
Markets are expected to open on a mildly positive note today and we may see them trade positive at least in the initial trade. The Markets resisted yesterday to the levels of 5950 and the levels of 100DMA levels which is 5961 today. Both of these levels are likely to continue to act as resistance today. The Markets will have to move past these levels for sustainable up move.
All and all, until these levels are broken on the upside and the Markets moves past them, we will continue to see it consolidating in the manner we say yesterday adding some amount of volatility to the trade. Overall while strictly avoiding shorts, it is advised to have very selective approach to the Markets. Overall, cautious outlook is advised for today.
Milan Vaishnav,
Consulting Technical Analyst,
+91-98250-16331
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