Nifty registered a loss of 26 points on the board.As expected markets gave a wide gap down opening on strong negative global cues and Rupee depreciation.In later part of todays session nifty however managed to recover some of the losses ,while the rupee also coming off from its new lows.The overall market breadth breadth was negative with 648 advances and 811 declines.
Today was an expiry session and hence choppiness was a normal scenario.Well,we have registered a sequential third time negative May month.According to the seasonal patterns thiscuold possibly the trigger markets to forming a new low in coming quarter session.Going further 4720 and 4535 are the levels to be looked upon.The current global turbulence is just becoming the ingredient for the impending move of the markets.
Talking about June,its quite vital ,since it will help us to make the picture more clear.If the monsoon goes good we will see some recovery ,but things will get worse before getting good
Today was an expiry session and hence choppiness was a normal scenario.Well,we have registered a sequential third time negative May month.According to the seasonal patterns thiscuold possibly the trigger markets to forming a new low in coming quarter session.Going further 4720 and 4535 are the levels to be looked upon.The current global turbulence is just becoming the ingredient for the impending move of the markets.
Talking about June,its quite vital ,since it will help us to make the picture more clear.If the monsoon goes good we will see some recovery ,but things will get worse before getting good
Comments
Post a Comment