We have not been able to come out with our regular edition of Daily Market Trend Guide in PDF Format. However, we reproduce brief market forecast in text format below. Inconvenience caused in sincerely regretted.
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BRIEF MARKET FORECAST FOR THE DAY

The Markets have attempted a fresh breakout after consolidating in a broad 200-odd points range of 7500-7700 levels. Today's session would continue to remain crucially important for the Markets. The Markets are expected to open on a flat to mildly positive note and look for directions and the levels of 7700 would continue to remain crucially important.

The Markets will have to maintain levels above of 7700 for today in order to confirm the breakout. The RSI--Relative Strength Index on the Daily Chart is 68.1575 and it does show any failure swing. However, the NIFTY has made a new 14-period high while RSI has not yet and this is Bearish Divergence.

Given the above reading, it is likely that the Markets continues with its momentum and extends its yesterday's gains but in case if the Markets drifts below 7700, which is also likely, may bring us back into consolidation. It is continued to be advised to remain moderate on exposures and stick to defensive stocks while making fresh purchases, that too on extremely selective basis and protecting profits at higher levels.
 
Milan Vaishnav,
Consulting Technical Analyst,
+91-98250-16331