Posted By : Kishore B.S
Today is the last trading day ahead of the FNO expiry of the current series tomorrow. With this the markets are pinpointing towards a sessions filled with lot of anxiety and volatility due to the impending US fiscal cliff issue not yet being resolved.
Also the fact that we are trading near the critical support levels of the the 5830 levels are indicating that the participants are lacking the vigour seen during the start of the month where the target was of 6000+ levels by this month end.
Given the status we are at technically and both fundamentally that target might not be reached by the year end and the markets are likely to remain volatile even today due to the global scenario, where most of the Indices are either shut down or are treading in the RED.
As stated earlier as long as the 5830 levels are held there are chances of the 6000+ levels and if that is broken then the chances of correction to the 5700 levels again cannot be ruled out.
Inputs: Mr. Hemanth.V, Faculty TA, Stock Market Institute – Bangalore)