We
have not been able to come up with regular PDF Edition of Daily Market
Trend Guide. We reproduce Brief Market Forecast for today. Inconvenience
caused is sincerely regretted.
Brief Market Forecast for the Day
Though the Markets saw a spurt in the second half of the session, it still remains below the rising trend line. Today, expect the Markets to open on a mildly negative and quiet note. The rollovers would dominate the session and the Markets will have to trade above 8140-8460 levels in order to break out on the upside.
Until this happens, the consolidation phase would continue and profit taking from higher levels cannot be ruled out. The RSI remains neutral and Daily MACD is bearish as it trades below its signal line. It is best advised to continue to exercise caution and adopt highly stock specific approach for today.
Milan Vaishnav,
Though the Markets saw a spurt in the second half of the session, it still remains below the rising trend line. Today, expect the Markets to open on a mildly negative and quiet note. The rollovers would dominate the session and the Markets will have to trade above 8140-8460 levels in order to break out on the upside.
Until this happens, the consolidation phase would continue and profit taking from higher levels cannot be ruled out. The RSI remains neutral and Daily MACD is bearish as it trades below its signal line. It is best advised to continue to exercise caution and adopt highly stock specific approach for today.
Milan Vaishnav,
Consulting Technical Analyst,
+91-98250-16331
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