Due to technical glitch, we are not able to publish your copy of Daily Market Trend Guide in regular PDF format. However, Brief Market Forecast for the Day is produced below. Inconvenience caused is sincerely regretted.


 A range bound trade is expected today as the Markets continued with its up move yesterday and today, it shows a mild chance to further consolidate around these given levels. The levels of 5649, which is the 200-DMA for the Markets shall continue to pose immediate resistance.

The lead indicators paint a neutral picture. The RSI on the Daily Charts is 40.6279 and it is neutral as it shows no negative divergence or failure swings. The Daily MACD too is still bearish as it trades below its signal line.

Overall, thought the Markets have continued with its pullback, it is approaching its key resistance levels of 200-DMA. Even if its continues with its up move, the chances of mild profit taking or consolidation around these levels cannot be  ruled out. With no trend reversal at this moment and just a pullback, Markets should be approached very cautiously until it moves past the 200-DMA. Until this happens, continuation of selective approach with cautious outlook towards the  Markets is advised.

Milan Vaishnav,
Consulting Technical Analyst,