SMI –7th october 2013 – Market View

Posted By : Kishore B.S

Hi Friends,

The volatility in the markets are expected to continue. On Friday US and Europe closed in positive still Asia including India is trading in deep red. This shows uncertainty in the minds of FIIs. The uncertainty over US government shut down still looms over the markets.

This week there is no major global events. So, markets are expected to be range bound and volatile. Broadly it is expected to trade in the range of 5800 – 6000. The upside of the market looks capped at 6000 levels. Nifty is trading around its 200 DMA of 5840. This support has acted as a very major pivotal point for the markets. A sharp bounce from these levels.

This week we have Infy results and IIP numbers. IIP numbers is on Friday after market hours. So, Infy will kick start the earnings season. This will give us a peek as how this earning season is going to pan out. As of now the range of 5800-6000 is expected to remain intact for Nifty.

Cheers!!

Team SMI

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