Posted By : Kishore B.S
Hi Friends !!!!
As envisaged the markets though opened on a positive note yet failed to maintain and sustain the Upmove made during the Initial hours of the trading session.
The markets largely opened on a positive note today and reached above the 4900 mark thereby bringing some hopes among the investors and traders alike that this could the end of the bear rally and some bounce back could be on the trail. But as the session progressed the markets started slowly drifting down to due to negative news flow from the european markets and skepticism among the investors and traders that we are not yet out of the woods and the negative sentiments could further prevail.
By the end of the session the markets closed nearly flat fueling the news that the trend is not yet bullish and we could remain largely volatile in the days to come since the markets have not been yet able to cross the 4900 mark.
Though todays closing has indicated that volatility will continue yet no positive news flow either from global markets or domestic markets to contain the rupee depreciation and doubts about the economic growth could linger the investor sentiments from making any bets on the Indian markets where the risks seem to be more than the returns at the time being.
It would be ideal to remain watchful for the time being to see if the 4800 mark could be the support level or 4940 the resistance zone to be crossed for any fruitful investments in the horizon.
(Inputs: Mr. Hemanth .V, Faculty TA – Stock Market Institute, Bangalore)