You can see after the RBI policy, market fell drastically and later recovered
but still it is not able to cross the hurdle.
Looking at the pattern, market is still range bound, bulls might have made
some progress of moving the range from 8300-8500 to 8300-8600.
We are in the upper part of the band and it is difficult to sustain at higher
levels until there is any good positive news.
Since the parliament session is completely washed out, there is hardly any
good news that we could expect from there. Results have been mixed and
hence there could not be anything great expected from there also.
Finally, Rajan has also maintained a pause on the rate cut, so there are hardly
any possibility of good news, until we get a surprise from somewhere else.
Banking sector is now facing good resistance at 19000-19200 level. Until this
level is breached with good volumes, we may not be able to see any
sizeable movement in the index.
We can look for shorting opportunities in the PSU banking stocks as they
are in highly overbought zone and they have started showing cracks.
but still it is not able to cross the hurdle.
Looking at the pattern, market is still range bound, bulls might have made
some progress of moving the range from 8300-8500 to 8300-8600.
We are in the upper part of the band and it is difficult to sustain at higher
levels until there is any good positive news.
Since the parliament session is completely washed out, there is hardly any
good news that we could expect from there. Results have been mixed and
hence there could not be anything great expected from there also.
Finally, Rajan has also maintained a pause on the rate cut, so there are hardly
any possibility of good news, until we get a surprise from somewhere else.
Banking sector is now facing good resistance at 19000-19200 level. Until this
level is breached with good volumes, we may not be able to see any
sizeable movement in the index.
We can look for shorting opportunities in the PSU banking stocks as they
are in highly overbought zone and they have started showing cracks.
Very precious Stock Market View You have shared, really awesome..
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