SMI –27th September 2013 – Market View

Posted By : Kishore B.S

Hi Friends,

Nifty is trading in a very tight range. Yesterday was expiry still Nifty traded in a very tight range of 30 points. This type of sideways movement by Nifty frustrates the traders. It also eats into the option premium. So, traders should be cautious.

Today we have the weekly closing. So, today’s closing will give us some cue as whether bulls are winning or bears. As of now it looks equally poised. Not only India, the global markets have also paused. They are waiting for a trigger to break on either side.

If we see the domestic cues, the earning season is just round the corner. So, being stock specific is better than trading in the index. Bank Nifty is again under performig. If Nifty has to break on the upside it has to be supported by Bank Nifty.

Cheers!!

Team SMI

blog flyer logo

As of now it is best to stay out and trade on Monday with a fresh perspective.

 

Leave A Comment