As expected market strengthened its range bound pattern with a total reversal today. Non-trending markets tend to give many whipsaw trades and so is the position of NIFTY and many of the leaders now. When NIFTY and SENSE have closed with a loss of close to a percent in there index values, our INDIA KING's top ten leaders index has closed near flat with its head just above water. Reliance and Titan, which managed to close with gains that are worth a write about, still these moves were not sufficient enough to bring in any necessary strength. Choppiness to continue as there are no clear patterns visible on any charts.
Energy Index is the only Sector that has closed positive today and it mirrors the tensions that are prevailing world over. It is not a good sign, as these tensions are placing peace at jeopardy. Though markets need disturbances to correct overvalue, if it is had on a continuous basis, it shrinks growth.
Many of the industry groups that had steady moves for the past week have made a strong reversal, such up and down moves will result into confusion among market participants and most of them will opt to stay away rather than participate. All these happenings are clearly strengthening the range moves in the coming days.
Energy Index is the only Sector that has closed positive today and it mirrors the tensions that are prevailing world over. It is not a good sign, as these tensions are placing peace at jeopardy. Though markets need disturbances to correct overvalue, if it is had on a continuous basis, it shrinks growth.
Many of the industry groups that had steady moves for the past week have made a strong reversal, such up and down moves will result into confusion among market participants and most of them will opt to stay away rather than participate. All these happenings are clearly strengthening the range moves in the coming days.
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