SMI –1st october 2013 – Market View

Posted By : Kishore B.S

Hi Friends,

The markets were down yesterday on the news of US Government shutdown. However this shutdown might be a positive news for the emerging markets as this would delay the tapering of QE. So, in the long run this would attract inflows. This issue should be soon resolved.

The CAD number for Q1 came at $21.8 billion which was better than expected $22 billion. So, the government is on course for achieving its target of CAD.

Tomorrow we have a holiday. In two days the US shutdown should be resolved. The global markets can turn green tomorrow and we can have a gap up opening on Thursday. Nifty has fallen 200 points. So, some bounce back can’t be ruled out. So, new shorts should be initiated with caution. Nifty is in a broad range of 5700-5900. It is worth to wait and see which direction it goes and then trade.

Cheers!!

Team SMI

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