SMI –30th September 2013 – Market View

Posted By : Kishore B.S

Hi Friends,

Nifty had a gap down opening. It came on back of the US debt ceiling. It has to be resolved in October so that US can borrow more money to honor its commitments. At the end it is expected to pass, but until it is passed speculations will be in the markets which will bring volatility.

This week we have the CAD data which will be looked very closely upon. It will decide the course of the currency and in turn the market.

Today all the global markets are trading in red with a deep cut. So, the cut in Indian markets is not a cause of worry. If 5750 holds we can again see a bounce back. Else it will be difficult times for the market.

Cheers!!

Team SMI

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