Hi All,
Markets are likely to open
Sharp Negative tracking global markets, SGX Nifty is trading @ 8763 (-144
Points)
Shooting Star on Weekly, Candle
Divergence on daily charts, Classic Negative Divergence on hourly charts and
that to all this as Major Resistance of 8940 – 9120. All this was suggesting a
halt at Uptrend. Next Major supports on weekly charts are nearby 8570 – 8500.
Today’s opening will be Sharp
Negative as SGX Nifty is trading -140 points and Asian markets down more than
1% due to sharply lower finish for major US indexes on Friday amid concerns
central banks will become less accommodative.
Accommodative
Monetary Policy - When a central bank (such
as the Federal Reserve) attempts to expand the overall money supply to
boost the economy when growth is slowing (as measured by GDP). This is done to
encourage more spending from consumers and businesses by making money less
expensive to borrow by lowering the interest rate.
Areas to watch out
Supports @ 8760 – 8680 – 8640 -
8600
Resistance @ 8900 – 8950 - 8970
Bias will change to Negative for
Medium term if Nifty breaks 8530 – 8480 levels.
Trade with Strict stoploss and
with Proper Money Management.
Regards,
Mayur Shah.
Biocon received EU regulator nod for trastuzumab biosimilar. Stock jumps 3%.
ReplyDeleteShare Market Company