We
have not been able to publish full edition of Daily Market Trend Guide
in regular PDF Format. However, Brief Market Forecast for the day is
reproduced below. Inconvenience is sincerely regretted.
_______________________________________________________________________________________________
BRIEF MARKET FORECAST FOR THE DAY -- MONDAY, JUNE 22, 2015
The
Markets continued to end the sixth day with gains on Friday and today
as well, the Markets are expected to open on a positive note and look
for directions. However, continuing the thread of analysis carried out
on Friday, the Markets are approaching its falling channel trend line
and 50-DMA as well. This may lead the Markets to consolidate at higher
levels.
The
RSI--Relative Strength Index on the Daily Chart is 52.0696 and it has
reached its highest value in last 14-days which is bullish. Further RSI
has made a fresh 14-day high but NIFTY has not. This is Bullish
Divergence. The Daily MACD too is bullish as it trades above its signal
line. The Candles imply potential continuation of bullish trend.
The
levels of 8260 and 8300 are likely to act as resistance on the upside.
However, with still some room for upside in the Markets, we may continue
to see select purchases and sectoral out performance in the Markets.
Again, some possibility of consolidation in the Markets at higher levels
cannot be ruled out.
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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