Posted By : Kishore B.S
Yesterdays start of the year samavat 2069 was lacking in the punch that the bulls and the participants were expecting. Generally the Mahurat Trading is packed with lot of volatility and directional moves showing the further course of action for that samavat year.
But this years Mahurat trading was largely flatish and unvolatile, this could be due to the uncertainity that is been witnessed amongst them. Now that the mahurat trading has been done, the directional move could set in as stated by me since the Indices have closed below the 5680 mark.
As envisaged the charts are pointing towards some consolidation and profit booking pattern which could drag the indices by around 100-200 points with pivotal levels being the 5630 to watch out for. Any closure below this could trigger further sell off to the next level of the 5580 and further down to the 5490 levels if that 5580 is not held by the bulls.
On the higher side if the 5633 levels are held today and if the Indices crossover the 5680-5700 mark again then the bulls will rule supremacy to take the Indices all the way back to the 5800 levels sooner……
Inputs: Mr. Hemanth.V, Faculty TA, Stock Market Institute – Bangalore)