SMI Market View – 21st June

Posted By : Kishore B.S

Hi Friends !!!!!!

The markets are getting choppy and volatile on the Onset after the huge rally last witnessed during a fortnight back and has been consolidating between the 5000-5150 mark in the last ten trading sessions.
Has I have been reiterating, the trading range is a consolidation phase which is generally witnessed with swings that could be dangerous at times and cautiousness should be duly exercised in lieu of the same. And that the markets are in the range not much can be said as to the trading opportunities except the fact that the longs can be initiated on dips around the 5000 with stoploss of 4980 and shorts can be exercised on the higher side of the band around the 5130-40 band with stoploss of around 5180.
It would be also advisable to trade in small quantities till the breakout happens.

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


Team SMI

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