SMI –28th August 2013 – Market View

Posted By : Kishore B.S

Hi friends,

As expected the market continues its downtrend testing 5200 levels. The situation is very grim. We don’t know where the market will stop falling.

Today rupee breached 67 levels against dollar. The fall in rupee is huge on daily basis, falling 1% on a daily basis. If we continue the same way we will reach sub 70 levels in a week itself.

The global markets are in no way offering any respite. The global correction has intensified the fall in the Indian markets.

As of now, from a trading perspective it will be wise to stay out of the market. Tomorrow we have expiry. So, any short covering can give an unexpected bounce in the market.

Cheers!!

Team SMI

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