SMI –16th September 2013 – Market View

Posted By : Kishore B.S

Hi Friends,

Nifty opened gap up today with 100 points testing 5950 levels. This week we have huge news inflows from both global and domestic fronts which will make the markets volatile.

For starters today we have the WPI data. The data will give us a sense of what will be the RBI’s stance in its monthy policy. Next we have the Fed meet on 17th and 18th September. So, the much awaited QE tapering might start. And on 20th we have the RBI policy. So, alot of news flow to drive market.

Rupee is trading at 62.5 levels. It has been a remarkable recovery by rupee from almost 70 levels to 62.5 levels. This has fueled the rally.

Dow futures as well as European futures are pointing to a percent gap up opening. The momentum will turn on the upside. The markets are expected to be volatile. So, be cautious on all the longs and shorts.

Cheers!!

Team SMI

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