Posted By : Kishore B.S
Hi Friends !!!!!
Markets have their own unique way of defining things and it is upto the investors and participants at large to follow the same with diligence. And that has been exactly what the markets have been doing for the last fortnight.
The charts as indicating below are showing that the range now is getting more and more narrower, with the consolidation being heavy and the rewards getting too much intoxicating. As the charts indicate the breakout could be on anyside and as the popular belief of bullish sentiments echo if happens could lead the rally to 5360-5400 due to the FLAG pattern breakout.
However the impending EURO meet could be dampener and the much anticipated Govt announcement to support Rupee and Economy if fails could lead to sell off the nearest support level of 5000 easily.
(Inputs Mr. Hemanth .V, Faculty TA, Stock Market Institute, Bangalore)