Markets witnessed an absolute sideways and lacklustre session,where it hardly manages to accumulate 10 odd points closing at 5128.As expected some ripples were to be seen in view of the expiry but the lack of participation was evident.Till expiry the same story is likely to continue.Also the currency woes hovering as dark clouds over the markets compelling the markets to slide further.
On the hourly charts the sentiment has turned negative and markets are likely to trade at sub 5100 levels with support around 5070.The markets are resting above the dynamic DMA level which currently is trying to keep sentiments afloat and not let the bulls sink down .The technical indicators continue to indicate weakness,yet there's no sign of huge downfall as of now.We had a considerable correction of 250 odd points ,and now the markets are expected to consolidate ,if some positive news flows into the markets,then the bulls might again get back on track.
Lets hope we might get some relief in the coming days and we may again start the up-move.I maintain a cautious view till expiry
On the hourly charts the sentiment has turned negative and markets are likely to trade at sub 5100 levels with support around 5070.The markets are resting above the dynamic DMA level which currently is trying to keep sentiments afloat and not let the bulls sink down .The technical indicators continue to indicate weakness,yet there's no sign of huge downfall as of now.We had a considerable correction of 250 odd points ,and now the markets are expected to consolidate ,if some positive news flows into the markets,then the bulls might again get back on track.
Lets hope we might get some relief in the coming days and we may again start the up-move.I maintain a cautious view till expiry
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