Global Weakness persisting on Account of Worries over imminent Greece Default & Fed's Gloomy Outlook on US Economy coupled with Dollar appriciation v/s all major global currencies has led to sell-off amongst all Asset Classes including Equities & Commodities worldwide.
Continuous Depriciation in Rupee is putting a lot of pressure on Indian Economy as it directly impacts OIL Imports which inturn could fuel Inflation further & has a direct co-relation with Growth & Fiscal Deficit.
Also Ongoing Developments w.r.t 2G scam would be very crucial.
AVOID BOTTOM FISHING & REDUCE LONG POSITIONS on all rises as some more fall is likely.
Movements would be very choppy & Volataility would be at its peak ahead of F&O expiry on 29 Sept (Thursday).
Going Forward, Critical Resistance lies @ 4976-4992 area. If does not cross 4992, Nifty Futures may fall upto support area of 4765-4778.
Further Panic Selling upto 4643 & 4561 may be triggered on break & close below 4765.
Possible Trading Range : 4765-4992.
Regards,
Team Market View Investments.
Mo : 9987750901.
Visit http://www.mktviews-nifty50.blogspot.com/,
Yahoo Online Support : Marketview@ymail.com,
Never Forget : Our NATURE is our FUTURE !!!
Continuous Depriciation in Rupee is putting a lot of pressure on Indian Economy as it directly impacts OIL Imports which inturn could fuel Inflation further & has a direct co-relation with Growth & Fiscal Deficit.
Also Ongoing Developments w.r.t 2G scam would be very crucial.
AVOID BOTTOM FISHING & REDUCE LONG POSITIONS on all rises as some more fall is likely.
Movements would be very choppy & Volataility would be at its peak ahead of F&O expiry on 29 Sept (Thursday).
Going Forward, Critical Resistance lies @ 4976-4992 area. If does not cross 4992, Nifty Futures may fall upto support area of 4765-4778.
Further Panic Selling upto 4643 & 4561 may be triggered on break & close below 4765.
Possible Trading Range : 4765-4992.
Regards,
Team Market View Investments.
Mo : 9987750901.
Visit http://www.mktviews-nifty50.blogspot.com/,
Yahoo Online Support : Marketview@ymail.com,
Never Forget : Our NATURE is our FUTURE !!!
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