SMI –8th May 2013 – Market View

Posted By : Kishore B.S

Hi friends,

The Indian Indices are on the bullish trajectory for the last one month, this has been the longest bullish trajectory for this year after such momentum seen during the month of January.

The current bullish trajectory has now reached new heights where the markets have been on a roll near the last 1 years high of the 6100 mark which is seen as the most critical resistance levels now, since for the last few sessions, the Indices have been witnessing some selling pressure due to which the positive sentiments seem to be waning off.

As the charts suggest per se currently the bullish sentiments is still likely to continue towards the projected target of the 6130 levels where some correction or consolidation might start and on the downside the 5998 is the support levels to watch out for ……..

(Inputs: Basket option Research bureau – Bangalore)

Cheers!!

Team SMI

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