SMI –25th September 2013 – Market View

Posted By : Kishore B.S

Hi Friends,

The markets have become completely range bound with Nifty trading in just 20-30 point range. It seems as everyone is expecting for the expiry. So, tomorrow we can expect a big move on either side.

The global headwinds are flat to negative. If we see all the global markets, there is no major move in any of the markets on either side. So, this is a quite phase for all the markets.

Rupee has found its range in 62-63 against the dollar. Till it remains in this range it is not a major concern as this price has already been discounted by the markets.

Tomorrow we have expiry and we are expecting a move in either direction. The chances of Nifty testing its 200 DMA are more likely but expiry can give us volatility. So, instead of intraday calls it is better to take positional calls by buying 5700-5800 puts.

Cheers!!

Team SMI

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