The week ahead : Global cues to lead the way …

Once again, the Indian market indices closed on a negative note – The Sensex Closed at 33,176 and the Nifty closed at 10,195 due to negative cues such as possibility of political instability in 2019, The impact of the PNB scam and the RBI’s blanket ban on issuing LOU and widening current account deficit.

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 far as the Nifty is concerned, it is hovering just above the 200 day moving average at 10,150. Multiple closing below the moving average can drag the index down to 9,200-9,500 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 32,500-33,500 and Nifty in a range of 10100 – 10300. A bullish momentum is hard to come in the present scenario.

You may like these posts:

  1. The week ahead:Inflation data and global cues to drive the markets..
  2. The week ahead: uncertainties in US to boost the markets..
  3. The week ahead: tread carefully.

Leave a Comment