It looked all rosy at 6.30 am. in the morning by 7.45 am the picture is fast changing .The Chinese market is tanking as predicted, and the surprise move to change the Saudi Oil minister also brought in a level of un-certainty in the market.
What we could see is a positive opening of the market and a first one hour we could see the market in positive territory.If the news continues to be bad out of china and the Dow futures does go into deep negative territory then we could see the Indian markets slide and slide they will in a grand manner.A recovery will see the index and the Friday closing level or even slightly higher.
What should really trigger the market for its move towards 8000 level are the macro figures which are due this week and as also some critical results, also due .If both are positive then we could see a grand move towards 8000 and beyond.The expiry of this series could be between 8100 and 8200.The over all trend is positive, however the market may behave in an erratic manner on intra day basis,as usual it is buy on dips.
Be safe and have a good trading day.
What we could see is a positive opening of the market and a first one hour we could see the market in positive territory.If the news continues to be bad out of china and the Dow futures does go into deep negative territory then we could see the Indian markets slide and slide they will in a grand manner.A recovery will see the index and the Friday closing level or even slightly higher.
What should really trigger the market for its move towards 8000 level are the macro figures which are due this week and as also some critical results, also due .If both are positive then we could see a grand move towards 8000 and beyond.The expiry of this series could be between 8100 and 8200.The over all trend is positive, however the market may behave in an erratic manner on intra day basis,as usual it is buy on dips.
Be safe and have a good trading day.