Market Brief – MARKETS
TRADED IN A NARROW RANGE DURING LAST WEEK BEFORE ENDING IT MARGINALLY HIGHER,
THE MARKETS BREADTH (INTERNALS) WERE TOO WEAK AND THE STOCKS IN FAVOUR OF
ADVANCE TO DECLINE WERE NEGATIVE TOO. WITH GEO-POLITICAL CONCERNS IN IRAN AND
AS THE STATE ASSEMBLY ELECTION COMING CLOSER THE MARKETS HAS A HABBIT OF
GETTING JITTERY, AND SINCE THE COPRPORATES RESULTS ARE BEHIND US WERE A MIX
BAG, WITH SOME COMPANIES REPORTING EXCELLENT RESULTS AND SOME REELING UNDER
PRESSURE, AND NOW THE GLOBAL MARKETS WILL ONCE AGAIN SURFACE , ALTHOUGH THE
WORLD ECONOMIIES AND NOT DOING SO BADLY BUT THE PRICE BUT IT APPEARS THAT THE
PRICE DOES NOT JUSTIFY THE VALUE.IT FURTHER APPEARS THAT MARKETS UNTIL ASSEMBLY
AND GENEARAL ELECTION WILL BE EARSTWHILE CHOPPY AND VOLATILE. INVESTORS SHOULD
KEEP A PORTION OF CASH IN HAND TO BE DEPLOYED ONCE THERE IS STABILITY AND
POSITIVE NEWS FLOW STARTS POURING IN. THE BOTTOMLINE IS THAT UNTIL SOME
POSITIVE SURPRISES MARKETS WILL LOOK FRAIL AND VULNERABLE FOR CORRECTION
Technical–MARKETS
AFTER 6 WEEKS OF RISE SEEMS TO HAVE LOST SOME MOMENTUM AND IN THE NEAR-TERM IT
MAY CORRECT AND CONSOLIDATE UNLESS TECNICALLY CLOSES ABOVE 11500, ON THE LOWER
SIDE THERE ARE MULTIPLE SUPPORT RIGHT FROM
10900 TO 11400, MARKETS MAY HAVE WLD SWING IN BOTH THE DIREDCTION UNTILL
IT GETS CLEAR THAT MARKETS WILL CONFIRM CORRECTION BY CLOSING BELOW 11360,
HENCE IN THE SHORT TERM 11360 ON CLOSE REMANINS VITAL SUPPORT AND BELOW THIS CORRECTION
COULD GET SHARPER AND NIFTY WOULD TEST 11240. THE LONG AND THE MEDIUM-TERM
TREND WILL STILL BE INTACT.
INVESTORS SHOULD BE STOCK SPECIFICALLY OPTIMISTIC
ON THE MARKETS AT THE SAME TIME UMDERPERFROMING STOCK SHOULD FIND A WAY FOR
EXIT. SECTOR THAT HOLD PROMISE ARE FMCG, SELECTED STOCKS FROM OIL & GAS
& INSUSTRILES.
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