In line with the flat global cues, our market is also flat but positive. Movement on the NIFTY future is tight with an uptick, indicating a continuation. Value zone moves up slowly to 5316-5329. MACD histogram still being below zero is not a good thing to be. It needs few more bars of strength in the market or a clear bullish spike to move above zero, which seems a distant possibility at this moment. A new high on the NIFTY is likely, but at those levels if the bulls are not able to push the MACD histogram high above zero, we will go into a clear bear phase.
An expiry day, so the market has the possibility to swing either way. Traders please apply caution on all the positions being traded on the long side today.
No comments:
Post a Comment