Near-Term Outlook?

[Krish]

Hi Alchemist ji,
What is the near term outlook for Sensex and Nifty.?? Do you expect the nifty/sensex to fall??
Any specific stocks/sectors to target in the near term.

Thanks,
Krish

[marketmover]

Originally Posted by Krish

Hi Alchemist ji,
What is the near term outlook for Sensex and Nifty.?? Do you expect the nifty/sensex to fall??
Any specific stocks/sectors to target in the near term.

Thanks,
Krish

I am expecting a bounce back tomorrow to about 4940/4950 levels, The current expiry should end closer to 5000 levels.

[Alchemist]

4790-4800 is a very strong support.

4860 = 50 EMA; is upside resistance.

US cues will decide where we will go in the short-term.

only 2 days left for expiry.

I expect 4800 to hold.

If US is stable, we may finish the expiry between 4860 and 4900.

[Alchemist]

SGX Nifty suggests a negative opening.

Keep a watch for 4790-4800 support zone.

[Krish]

Hi Alchemist ji,
Will there be any resistance to this downwward trend. Nifty has gone below its 100 DMA?.. Your near term outlook...

Thanks,
Krish