We have seen huge volatile session in last week as i have warned you in my Monday's post. In last 15 days we have seen more than 100 points fall three times but two times nifty recovered its losses. Will it recovered this time also ? Lets consider. The situation is little different. FIIs were net buyer in previous two fall but This time FIIs sold index future worth Rs.1827 crores indicating fall will not easily recovered. As per nifty daily chart prices has fallen sharply below 20 days moving averages with supporting momentum indicators. According to nifty hourly chart Expanding triangle trend line support is coming around 5960 level. If this level break nifty may drag towards 5907 level. Economic news from across the globe will certainly put an impact on the market's direction. With the International Monetary Fund and the Organization for Economic Co-operation and Development forecasting a weak outlook for China and the European region respectively, global markets are likely to see some weak spells next week.
Trade cautiously. Huge volatile week ahead.
Trade cautiously. Huge volatile week ahead.
