25 Aug, 2014 (9:24AM IST)
I’m late, markets have opened, and I’ve forgotten everything that I had studied about trading pattern in Nifty and Bank Nifty 🙁
Feel like I’m back to my school days 🙂
SGX Nifty is down, the dollar index is shooting up, big central banks are not printing any new money and are talking about hiking interest rates.
In short, free liquidity to emerging markets like India is going to reduce.
Like other markets, that caps the upside in Indian markets.
So, we can either have a range bound session in Indian markets till Europe opens and provides some trading cues; or, some correction might start taking place in these markets.
Over all, last week’s trading range will be in place. So keep an eye on today’s pivot levels; above that mark, expect positive trend in markets,- but only up to the 1st resistance level. Global cues are still dominating these markets and Nifty will continue to follow those cues at least in the early part of today’s session.
It’s going to be very hectic day in stock markets so trade carefully and let markets settle down in early hours before jumping in the trading rings with your swords and bow-arrows 🙂
Good luck, See you later!