Due
to technical glitch, we have not been able to publish Daily Market
Trend Guide in regular PDF Format. Brief Market Forecast has been
produced herewith. Inconvenience caused is sincerely regretted
BRIEF MARKET FORECAST FOR THE D AY - WEDNESDAY, APRIL 22, 2015
The
Markets have ended the fifth day in a row yesterday with losses but in
the end recovered some part of it while continuing to add over 10.30
lakh shares or 5.04% in Open Interest. Today as well, we can expect a
quiet and flat opening but there are now chances that we see some
attempts to recover by the Markets while the levels of 8470 and 8565
acting as resistance and supports coming in at 8290 levels.
The
RSI remains at 35.2345 and Daily MACD remains bearish trading below its
signal line. Overall, though the Markets have started some signs of
finding bottom and some pullback might be seen, we continue to keep the
overall analysis on the similar lines. We continue to reiterate to
maintain adequate liquidity and keep fresh purchases while completely
avoiding any fresh shorts. Cautious optimism is advised for the day.
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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