SMI Market View – 20th June

Posted By : Kishore B.S

Hi Friends !!!!

 

The markets are bound to do things which are unpredictable and that has been the same thing which has been transpiring on the Indian bourses for the last 10 sessions as seen below in the graphs.
The charts below are indicating that the Indices has been moving in the range bound level of 5000-5160 as earmarked by the bold Red and Blue lines on the chart and unless that levels are intact the gains and losses are likely to be restricted and limited. However its an opportunity for the traders at large to use these range for trading on specific stocks and also the indices to gain quickly since the limitations are known.
As I have been reiterating unless the range is broken on either side the direction is consolidation and it would be in the best of the interests to trade in smaller quantities for quicker profits and tight stoplosses on either side of the range for larger positions.

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

Cheers!!

Team SMI

www.stockmarketinstitute.org

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