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TECHNICALLY SPEAKING: The domestic equity indices which kick started the day on an optimistic note tracking
strong global cues cracked under pressure approaching the last hour of trade and ended the session with modest
gains only. However, Positive start of the European markets and the Smart performance of the Realty sector
supported the domestic markets to some extent.
FAVORED TOT UP: Remember we have said that below 5580 there might be a sharp fall. Exactly to our
expectations spot index plummet in the last session and breached 5500 though manages to close with tiny buying.
Technically 5380-5400 could be the next level of support though sentiments remain subdued and we expect some
more downside near to 5250 in upcoming sessions. Hence traders are advised to remain cautious at this stage and
use ‘sell on rally’ strategy until and unless 5630 wouldn’t breach down with decisive volumes.
VARIED TOT UP: On the flip side any bounce back from current levels may reap indices towards 5630-5650 level
where we might see some sort of consolidation. Any break out above this may generate some suggestive buying
opportunities though 5800-5850 might be the next ress zone.. HAPPY TRADING......