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Turbulence ahead of result season

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Last week was truncated to a 3 day trading week, but we witnessed huge volatility as markets made a low of 5735 & high of 5930 within a day, a decline once again towards the weekend to close at the 5824 level. After the sharp rally from 5350 markets has closed around the 5800 level for the last three weeks. The  short term trend will be at risk once nifty futures sustain below the 5800 level and the medium term trend could be at risk only if Nifty futures break the 5700 level.

Wild stock specific movement can be expected in next few days and hence caution is advised, as markets experience high turbulence ahead of the of result season. Long term averages are in favor of bulls though very short term indicators point towards a downward move.


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Written by Rakesh Gandhi

April 18, 2011 at 2:07 pm

Posted in Market Update

Tagged with , , ,

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