SMI –10th May 2013 – Market View

Posted By : Kishore B.S

Hi friends,

The markets remained largely volatile yesterday and the same is likely to continue even on today. That would be the appropriate summary of the markets going by the technical charts.

The charts have been indicating clearly now that the Indices are getting evened out now, with the lot of overbought levels being maintained from the last 8 sessions, and the psychological barrier of the 6100 being unable to be breached.

Due to this scenario the 6100 should be seen as the barrier for the bulls and upside momentum and as reiterated the markets are in the phase of some consolidation and profit booking which should be exercised and the best entry point would be below the 5900 mark which might be witnessed soon…..

(Inputs: Basket option Research bureau – Bangalore)

Cheers!!

Team SMI

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