SMI –16th April 2013 – Market View

Posted By : Kishore B.S

Hi friends,

The indian indices were is total contrast to the Global markets yesterday continuing its flow opposite to the Global markets for yet another trading session, where the Indian Indices has been trading exactly opposite to the Global markets. This trend was termed as the decoupling during the 2008-09 year, which is getting reflected again now.

The technical charts are indicating and suggesting that any break down below the 5500-5480 would lead the markets to the abyss of the 5200 soon and the 5600-5630 is the resistance zone to watchout for which unless crossed means range bound trading sessions for some more time.

The technical charts are also pointing out that there is a No trade zone between this trading range of the 5480-5630 and it would be best to stay out on cash till this range is broken out.

 

(Inputs: Basket option Research bureau – Bangalore)

Cheers!!

Team SMI

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