Market Snapshot - 10 June 2013 Indian Markets experienced a volatile session today and NIFTY closed flat at 5878 down by 3 points. Global cues were also uncertain with Hang Seng closing marginally up and FTSE trading in red. USD-INR at Life Time high! INR continues to weaken against USD and it breached the level of 58 to close at 58.13. It is poised to depreciate further which is alarming sign for Indian Equity Markets. Brent crude at $104/bbl and weak rupee is causing double problems for Indian economy. What’s next on NIFTY? NIFTY in past 2 trading sessions is trying to break strong support level of 5880. Though it has closed just below 5880, we need a confirmation of the same in tomorrow’s trade. India VIX (Volatility Index) was up by 4% at 18.11 levels. Intraday volatility might continue in NIFTY with a negative bias. To summarize, only global market sentiments and liquid money are holding our markets at these levels. If that stops, we might see a sharp fall in Indian markets and 5700 on NIFTY is not impossible !!! grow-with-samarth.blogspot.in/2013/06/market-snapshot-10th-june-2013.html
Posted on: Tue, 11 Jun 2013 02:08:54 +0000
Trending Topics
Recently Viewed Topics
© 2015