Posted By : Kishore B.S
Hi Friends !!!!
The markets as the charts below indicate are at crucial levels and on the verge of a likely FLAG pattern breakout above the 5150 mark which if holds and confirms could lead to targets of 5380 on a conversation basis.
The RBI monetary policy meet today is likely to be the deciding factor for the direction of the course and if the indices after the RBI meet fails to crossover and sustain above the 5150 mark could lead to profit booking to the 5000 levels easily, till then it would be advisable to wait and watch and trade accordingly.
(Inputs Mr. Hemanth .V, Faculty TA, Stock Market Institute, Bangalore)