Posted By : Kishore B.S
The markets remained largely subdued and negative today, with the sentiments hovering between the bulls and bears with the bears pulling in an upper hand as the day progressed.
Though the markets opened with a lower Gap yet there were some signs of recovery which didn’t have fructify since the Indices failed to crossover above the days high made during the opening minutes.
Though the world and global markets were largely down yet our markets did not react negatively to that extent but remained influenced by it due to which bears were is complete control over the bulls.
It is important also to note that the markets have closed below the 5200 mark and are near the 5300 mark. Since if the 5200 mark was broken could have led to the markets coming back into the trading range of 5020-5190 witnessed during last month.
Given the global cues arising in the last few days it looks that the markets are getting gloomy and we could remained range bound again with the higher end at 5330 and lower range being the 5020, and that the results season could kick start the direction of the markets on either side of this spectrum in the coming days.
Overall the trend would be cautious and it would be ideal to wait and watch to the course and take positions adequately.
(Inputs Mr. Hemanth. V, Faculty TA, Stock Market Institute, Bangalore)