SMI –6th September 2013 – Market View

Posted By : Kishore B.S

Hi Friends,

After the stellar performance yesterday, Nifty is trading almost flat today. Nifty was expected to consolidate around 5570 – 5600 levels. So, this is no surprise.The more time it spends in this region, the probability of breaking 5600 levels are more.

Rupee is also trading at 66 levels. So, the new Governor has led into an improvement in the sentiments. If the positive sentiment continues and we can go below 65, it would be a great positive for the market.

Europe, Asia and US are almost flat. We have the job data in US today. If there are no shocks, and US stays flat to positive the chances of breaking 5600 increases.

Monday is a holiday for Ganesh Chaturthi. So, Nifty is in a no trade zone today. There is no point speculating. 3 days is a long time for any kind of news flow. Our markets have shown alot of volatility. So, it is best to sit out and trade with a fresh perspective on Tuesday.

Cheers!!

Team SMI

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