Recently there have been interesting developments taken place in global as well as in local.
Enhancement of surcharges on FPI has been with drawn and steps have been taken to boost auto and reality sectors.
Globally trade war has been intensified and Dow has dipped by more than 2 percent on friday..Globally economic slow down has been intensified.
Question is will Indian market rebound due to steps taken by govt with slowing down of economy and recent poor quarterly results?
Technically nifty is trading below its 20 days ,.50 days , 100 days and 200 days sma.
Negative cross over of 20 days sma has taken place with all the higher moving averages.
Under these circumstances Nifty is under the influence of Bears no doubt.
Last time nifty faced resistance at 20 sma and retraced back and at another occasion it retraced from 200 sma.
May be ideal situation is to buy on rumors and sell on news. sustaining at higher level does not seem to be possible.
If Nifty attempts to Stiff possible resistances are at 20 sma and 200 sma which are well above the present price.
Nifty may face resistances at 10851,10915,10989,and 11082 .
On the down side if nifty breaks recent low sub 10600 levels are possible.
Some times too many market noises negates the technical analysis.
Enhancement of surcharges on FPI has been with drawn and steps have been taken to boost auto and reality sectors.
Globally trade war has been intensified and Dow has dipped by more than 2 percent on friday..Globally economic slow down has been intensified.
Question is will Indian market rebound due to steps taken by govt with slowing down of economy and recent poor quarterly results?
Technically nifty is trading below its 20 days ,.50 days , 100 days and 200 days sma.
Negative cross over of 20 days sma has taken place with all the higher moving averages.
Under these circumstances Nifty is under the influence of Bears no doubt.
Last time nifty faced resistance at 20 sma and retraced back and at another occasion it retraced from 200 sma.
May be ideal situation is to buy on rumors and sell on news. sustaining at higher level does not seem to be possible.
If Nifty attempts to Stiff possible resistances are at 20 sma and 200 sma which are well above the present price.
Nifty may face resistances at 10851,10915,10989,and 11082 .
On the down side if nifty breaks recent low sub 10600 levels are possible.
Some times too many market noises negates the technical analysis.
