SMI –26th September 2013 – Market View

Posted By : Kishore B.S

Hi Friends,

Nifty was very volatile yesterday. It touched 5811 then recovered to end the day at 5872. We have already told that Nifty will remain highly volatile in the expiry week. It is very hard to predict in which direction it will move.

Today also it is expected to move in 30-40 point range till the last hour and then break the range on either side. The possibility of breaking on the downside looks more.

The global sentiments are a tad negative. Dow is losing 50-60 points on a daily basis on back of weak economic data and Fed uncertainty.

So, the positional trade remains on the downside. Nifty is expected to test its 200 DMA. As for intraday traders it is best to stay out of the market.

Cheers!!

Team SMI

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