Friday, October 26, 2012

Brief Daily Market Trend Guide -- Friday, October 26, 2012

BRIEF MARKET FORECAST FOR TODAY  - October 26, 2012

Markets are expected to open on a weaker note and is likely to see a sluggish trade initially in the session. Though intraday trajectory would continue to dominate the trend for today, the levels of 5730 shall continue to act as major resistance followed by 5800 later. No sustainable up move is likely to occur until the Markets moves past these levels. Overall, with continuing sideward movement, the overall bias still remains on the downside, though intermittent pullbacks in form of short covering may be seen. Overall, continuance of cautious outlook is advised for today.
 
Milan Vaishnav,
Consulting Technical Analyst,
+91-98250-16331
 

BRIEF MARKET FORECAST FOR THE DAY - OCTOBER 25, 2012

BRIEF MARKET FORECAST FOR THE DAY - OCTOBER 25, 2012

Expect the Markets to open on a flat to negative note. The global Markets have been flat but the Indian Markets were closed yesterday on account of Dashera and this may cause a lower and negative opening in the Markets.

With the Markets expected to open negative, the session would  also remain very much dominated with rollover centric activities as we enter the expiry day of current derivative series. This shall keep the Markets volatile, and in a range with downward bias with the levels of 5730 and 5800 acting as resistance.

While intermittent pullbacks cannot be ruled out, overall, cautious approach with downward bias is advised for today.
 
Milan Vaishnav,
Consulting Technical Analyst,
+91-98250-16331
 

Tuesday, October 23, 2012

BRIEF MARKET FORECAST FOR THE DAY -- October 23, 2012


BRIEF MARKET FORECAST FOR THE DAY  -- October 23, 2012
 

Expect the Markets to open on a moderately negative note. The Markets have continued to fiercely  consolidate and still continues to face resistance at the levels of 5810-5825. We enter the penultimate day of expiry of current series (tomorrow being trading holiday) and thus will see the session remaining dominated with rollover centric activities. With no breakout in sight, the bias would remain downwards until the Markets moves past the levels of 5810-5825 and sustains above that.

We may see range bound trade with volatility ingrained in it. No aggressive longs are advised and cautious outlook is advised for today.

Milan Vaishnav,
Consulting Technical Analyst,
+91-98250-16331