SMI – Market Outlook – 5th November

Posted By : Kishore B.S

Hi Friends !!!!!

The markets last week remained volatile during the RBI meet and also due to the mixed cues emanating from the Global space and this week can also be expected to remain the same.
Tomorrow is the most critical and crucial day for the Global space and markets altogether since the US Presidential elections are happening and the next Office term whether Obama would continue or Romney would replace him would be decided. And since the US markets influence the Global indices all together with the popular saying that “if the US Sneezes the World markets catch Cold” the policies to be framed by them and would influence the World markets.
The technical charts are clearly indicating that unless the 5730 mark is taken out on the higher side there is no long trades and it would be wise to buy on dips only or wait practically for the higher side to be broken without which it would be foolish to enter trade on the higher zone since the markets are in the choppy mode between the 5560-5730 levels for the time being.
Hence it would be practically wise to follow the strategy of sell on rallies and buy on dips till the trading range persists.

(Inputs: Mr. Hemanth.V, Faculty TA, Stock Market Institute – Bangalore)


Team SMI

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