Posted By : Kishore B.S
Hi Friends !!!!
The markets as envisioned have yet again remained in the trading range even yesterday. Though the markets rallied during the initial hours on the hopes of policy announcements by the RBI and FM to support and augment the ailing Economy, and support the sliding Rupee. Yet the announcements that crept in during the Noon session failed to impress the participants resulting in the huge sell off.
The participants and markets were pinning hopes that Pranabda as he is fondly called would throw out goodies as his last stint as the FM as a Farewell gift to the Economy but he has yet again failed miserably showing his callousness and lack of thoughts to support the ailing Economy at large before getting elevated to the Topmost position of President of India.
As the charts have been indicating the markets are remained range bound for the last fortnight and until the range of 5040-5190 is broken off not much could be said abou the momentum, the expiry of the current series is also taking place this week and given the conditions, we could end at the 5100-5160 range for the current series and most likely the trigger for the range could be set during the set series and till then it would be best to use the trading range to buy on dips and sell on rallies.
(Inputs Mr. Hemanth .V, Faculty TA, Stock Market Institute, Bangalore)