SMI Market View – 29th June

Posted By : Kishore B.S

Hi Friends !!!!

The contract Expiry for the current month expiry was quiet and resilient reflecting the conflicting mood of the market participants at large as to the direction of the markets. This has the third consecutive month when the markets have ended on a flatter note on the expiry day unable to take a course of action and direction.
The Euro Summit later in the day however gave out the much needed positive sentiments and boost by expressly stating that further monetary policies and also funds would be released to boost the Sagging European Economy and also the ailing European nations, which could change the course of the market which was skeptical of the falling apart of the Euro for quite some time.
The charts which were range bound for the last 15 sessions could finally be breaking out of the range setting the course the FLAG breakout pattern target of 5400 in the days to come and it would advised to remain long on dips with stoploss of 5100.

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


Team SMI

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