SMI –30th August 2013 – Market View

Posted By : Kishore B.S

Hi friends,

Nifty closed above 5400 levels on expiry day. Today also it is up 50 points testing 5450 levels. Nifty has an unfilled gap till 5477 which is expected to get filled today. People should refrain from shorting the market right now as the momentum is on the upside. Longs should also not be initiated as in the past few days we have seen that these rallies fail to sustain.

Rupee has shown some gains but it is still above alarming levels of 67. There has been no concrete steps from the governments. All the steps have shown no respite.

The global markets are flat to positive which has supported the Indian markets in rallying. So, it will be best to sit out of the market and wait for the right levels to enter the market.

Cheers!!

Team SMI

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