Posted By : Kishore B.S
Hi Friends !!!
The market momentum is now getting narrower and narrower and the charts are indicating that
the breakout of the range bound momentum is likely to happen today ahead of the Expiry tomorrow.
Given the Global Cues and charts it looks like the volatility will be the rooster even today and a pragmatic breakout above 5280 would set the direction for the Upmove to 5340-5400 levels and a breakdown below the 5170 would seal the fate of the Bulls for the time being and give an upper hand for the BEARS dragging the markets to 5040-5060 which is the 200 DMA.
It would be idle to wait for the first hour of trading and take suitable positions on the direction of the Move with adequate Stoplosses.
(Inputs: Mr. Hemanth V, Faculty TA, Stock Market Institute, Bangalore)