Posted By : Kishore B.S
Hi Friends !!!
Simply Amazing !!! these are the exact words that flashes in the mind after looking at the charts of the Indices for the last one Month. The reasons for those words is because that the Indices are on the verge of Proving the Proverb “Silence before the thunderstorm” wherein the environment suddenly becomes extremely silent and resilient before the onset of utter chaos and turbulence.
But in the case of the markets and indices it remains to be seemed and watched out for who would have the upper hand ultimately as to whether it would be the bulls or the bears, since going by the charts it looks that the wait is getting only longer and uncertain without the directional move for the series that is expiring today.
Probably the end of the contract could set tone for the direction of the markets wherein a decisive breakout could happen on either side wherein a move above the 5340 could signal a further Rally and a closure below the 5140-5130 mark could signal and drift to the further abyss.
Yesterday FOMC meet, Euro markets and S&P warnings seem to have been factored in and the markets could well be poised for the directional move … and with that hope it would be advisable to trade on lighter side with adequate stoplosses……..
(Inputs: Mr. Hemanth V, Faculty TA, Stock Market Institute, Bangalore)