We have not been able to publish Daily Market Trend Guide in regular
PDF Format today. Brief Market Forecast for the Daily is reproduced
below. Inconvenience caused is sincerely regretted.
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BRIEF MARKET FORECAST FOR THE DAY
The Markets are likely to open today on modestly negative note and correct. After having spent the entire session yesterday in a extremely capped range, the Markets are likely to remain in corrective pressure today. Further, today being the expiry day of the current derivative series, the session would not only remain dominated with rollover centric activities but volatility would also remain very much ingrained in it.
The levels of 7350 and 7385 would act as immediate resistance and the supports exists much lower at 7270 and 7210 levels.
With lead indicators continuing to remain in "overbought" territory, the it would not be a surprise if the Markets witness volatile correction. Any continuing rise in "overbought" territory would be unhealthy and therefore we continue to advice very moderate exposure and extremely stock specific approach for today.
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BRIEF MARKET FORECAST FOR THE DAY
The Markets are likely to open today on modestly negative note and correct. After having spent the entire session yesterday in a extremely capped range, the Markets are likely to remain in corrective pressure today. Further, today being the expiry day of the current derivative series, the session would not only remain dominated with rollover centric activities but volatility would also remain very much ingrained in it.
The levels of 7350 and 7385 would act as immediate resistance and the supports exists much lower at 7270 and 7210 levels.
With lead indicators continuing to remain in "overbought" territory, the it would not be a surprise if the Markets witness volatile correction. Any continuing rise in "overbought" territory would be unhealthy and therefore we continue to advice very moderate exposure and extremely stock specific approach for today.
Milan Vaishnav,
Consulting Technical
Analyst,
+91-98250-16331
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