SMI –6th May 2013 – Market View

Posted By : Kishore B.S

Hi friends,

The markets have largely remained on the positive zone for the last 2 weeks indicating that the bulls are in total control and are likely remain in the bulls domain for another week as well.

The technical charts are indicating that the current week are likely to remain volatile with bullish sentiments as long as the 5900 levels are respected failing which there would cause for concern. As reiterated during the last week, the daily charts are indicating bullish overbought levels, due to which the volatility or profit booking is likely to coexist.

But the bullish expectations are due to the weekly charts which are showing bullishness as long as the 5900 is held and if that is cracked then the downside could be around 5700 max for the time being…..

 

(Inputs: Basket option Research bureau – Bangalore)

Cheers!!

Team SMI

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