SMI –17th April 2013 – Market View

Posted By : Kishore B.S

Hi friends,

Yesterday after the long lull season of only bears trumping the markets, finally the bulls took charge by successfully crossing over the 5630 levels to head towards the first target and resistance of the 5700 mark as pointed out earlier.

With the closure yesterday above the 5660 levels the bulls have made a come back and have clearly indicated that they would rule the roost for some more time and that the 5740-5780 might be back into sight soon.

The technical graphs are backing this insight that the 5800 levels would be a reality if the 5630 levels are intact and that some buying into selective counters can be made with expectations of some decent gains towards that mark with tight stoploss around the 5630 mark …….

(Inputs: Basket option Research bureau – Bangalore)

Cheers!!

Team SMI

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