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| P R Sundar, Aditya Trading Solutions |
Time: 10 am
Dalal Street Week Ahead:
- Everything was good in the initial part of the last week.
- Suddenly Fed tapering issue surfaced again and the markets fell.
- Now the markets are trading at the lower end of the trading range for this month.
- US markets closed at the highest level should offer some support to our markets.
- Also FIIs have not started selling.
- As long as they are not selling, markets should find bottom somewhere here.
- In case if the markets start moving up from here, the uptrend will be strong as 6000 in Nifty would have become double bottom.
- There are no market moving news from India until expiry.
- On Friday, GDP data is due, according to some analysts it is going to be positive.
- In US, on Monday, Pending home sales data, on Tuesday, consumer confidence data, on Wednesday, durable goods order data are due.
- Thursday and Friday will be holiday is US due to Thanksgiving Day.
- Usually, the week before expiry if the markets fall drastically, then negative sentiment will be carried until the end of expiry.
- Also during expiry week markets will be highly volatile due to rolling over of positions.
- Since the Nifty has fallen about 350 points from the beginning of this month, downside from here seems to be limited.
- On Monday, markets will open with positive bias.
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