Nifty & Bank Nifty Weekly Technical Outlook for 28th Oct, 2013

Nifty Daily Chart

Nifty Daily Chart

Banking Index Daily Chart

Banking Index Daily Chart

 

One of the funny things about the Stock Market is that every time one person buys, another sells, and both think they are astute. – William Feather

Sensex reached to the psychological level of 21000 near to Diwali time, and just one week before the futures market expiry. As always, markets chit-chat with all good and bad views, and have full sauce to confuse the retail and small investors.  Basically, playing with sentiments is the name of market trading, and that is exactly what is happening in the market. Because, if we see fundamentally market has no or very few reason to contribute to this rally, just because it is in sprint, smart speakers are coming with some findings, which were there just because market is at this place. And technically, it is perceived that markets are exhausted and either top is done or about to done. But does this market listen to any of us, or just dance on the tune of Big Boys…

We try to put our point with our technical understanding, and we assume that fundamentally you are sound enough or at least reading some news paper, so we’ll not take much of your time in that.

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We are covering Major Equity, Forex& Commodity Markets, Way2Profits filters information and streams meaningful conclusions right to your inbox. Technical Research is our realm and we fathom the depths.

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