We
have not been able to come out with regular edition of Daily Market
Trend Guide in PDF Format. However, Market Forecast for the Day is
reproduced below in brief. Inconvenience caused is sincerely regretted.
BRIEF MARKET FORECAST FOR THE DAY
BRIEF MARKET FORECAST FOR THE DAY
The
analysis once again continue to remain more or less on similar lines
like yesterday. The Markets have continued to take support at its 50-DMA
at Close levels. Today, we can once again expect a lower opening but at
the same time we can also expect resilience from the Markets.
The
RSI on Daily Chart is 37.6863 and it has reached its lowest value in
last 14-day which is bearish. It does not show any bullish or bearish
divergence. The Daily MACD trades below its signal line.
Overall,
the Markets are likely to see lower opening but at the same time there
are bright chances that it improves as we go ahead in the session. The
supports would come in at 8150 levels again. It is once again advised to
refrain from any fresh shorts and continue to maintain liquidity with
positive caution in the Markets. A technical rebound is likely.
Milan Vaishnav,
Consulting Technical Analyst,
Af. Member: Market Technicians Association (MTA), USA
Af. Member: Association of Technical Market Analysts, INDIA
www.MyMoneyPlant.co.in
Af. Member: Market Technicians Association (MTA), USA
Af. Member: Association of Technical Market Analysts, INDIA
www.MyMoneyPlant.co.in
+91-98250-16331
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