22:57
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A week that marks the upside levels of 11000 as a Trap for Bulls as Nifty slides to lower levels of 10700. As Global markets tread higher with major world indices rebounding and trading at month's high, Indian equity market was seen down as profit booking was seen at higher levels. We are back to the same old range with markets trading between 10600 to 10900.
Global cues were largely positive with major world Indices trading at Month's high while Crucial index such as S&P500 surpassed the 200 Days MA. It is a sigh of relief for bulls though we need to see if its able to sustain the same.
The Domestic markets absorbed the lower inflation numbers at 2.61%. This certainly comes in line and improves the sentiment that RBI may keep the monetary policy neutral going forward. The Trade deficit saw a surprise with numbers coming at 14.73B.
Global cues were largely positive with major world Indices trading at Month's high while Crucial index such as S&P500 surpassed the 200 Days MA. It is a sigh of relief for bulls though we need to see if its able to sustain the same.
The Domestic markets absorbed the lower inflation numbers at 2.61%. This certainly comes in line and improves the sentiment that RBI may keep the monetary policy neutral going forward. The Trade deficit saw a surprise with numbers coming at 14.73B.
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Posted in: Indian Market Tips
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