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Backed by positive cues from around the worldthe Indian benchmark indices closed the week with a gain of 1. The on-going talks to ease the trade war between US and China eased the pressure around the globe and Indian and Asian markets responded accordingly. Going ahead, the first trading week of the new financial year unfolds and investors should keep watching the global trends which were driving the market sentiments for a while now.
The March month auto sales numbers and the rupee and crude oil price movement are also important. Although the indices reacted positively last weekthe short term trend still remains down. Whats important to watch is whether the indices can break the key resistance conclusively. The key resistance points or the Nifty and the Sensex are poised at 10, and 33, These are key hurdles and as long as the indices trade below these levelsit would be difficult to judge whether there is a confirmed uptrend or not.
As expected, the markets were influenced by global cues last week. The week that passed by witnessed the global markets skidding on the prospects of a trade war. Another factor that contributed to the downfall of the markets share market trading tutorial india the resultant rise in crude oil and gold prices. Share market trading tutorial india is to be remembered that both the Nifty and the Sensex had registered a 4. Going ahead, the short term trend continues to be down.
The Nifty closed below share market trading tutorial india, for the first time since last October and it has breached the day moving average which was poised at 10, The Sensex too, has breached all the immediate support levels including the day DMA.
It would be unrealistic to expect any strong positive movement this week considering that the March derivatives expiry is coming up. A further fall in the indices will reinforce the downtrend and bearish sentiments will become more and more prominent. The equity markets will be shut down on Thursday and Friday on share market trading tutorial india of Mahavir jayanthi and Good Friday.
Going ahead, the US fed meeting is the big event coming up. Experts say that a rate hike is possible. The crude oil price movement is also important to watch. As share market trading tutorial india as the Nifty is concerned, it share market trading tutorial india hovering just above the day moving average at 10, Multiple closing below the moving average can drag the index down to 9, levels in no time.
So traders need to be extra cautious in taking positions. For the week ahead, we expect the Sensex to trade in a range of 32, and Nifty in a range of — A bullish momentum is hard to come in the present scenario. Led by the continuing carnage in PSU Banking stocks, the India benchmark indices — the Sensex and the nifty closed at 33, and 10, The selloff in metal stocks and weak global sentiments further added fuel to the Indian markets making the sentiments bearish.
Going ahead, there is a slew of economic data to be released and the market movements are likely to be influenced by these numbers which includes — IIP data for January and inflation numbers for February. The markets are also likely to be influenced by the outcome of the GST meeting that concluded on last Saturday.
Other factors that are likely to influence market movements include — crude oil movement and US CPI data for February. Overall, the present scenario does not look cheerful. The stock indices show a downward tilt and it is likely to continue the downward movement in the short term. You can get the latest posts delivered to you for share market trading tutorial india via Email share market trading tutorial india RSS.
Website developed by Toobler Technologies. Financial Discipline for all. Articles New to investing? Try our Beginner's Lessons. Bearish sentiments to continue. Macro data to drive the markets ahead… by J Victor on March 12th, Led by the continuing carnage in PSU Banking stocks, the India benchmark indices — the Sensex and the nifty closed at 33, and 10, Choosing a Broker and opening Demat Accounts Make your debut!! Valuation of shares Futures and Options - The basics.
About Jins Victor Jins Victor is the founder share market trading tutorial india www. Based in Kochi, he heads one of the leading financial consultancy firms in Kerala. He is an avid follower of stock markets and invests in his own account. Through this website, he shares his experiences and knowledge and teaches how to make money from share markets using solid rules.