Non Resident Indian Business Forum

Non Resident Indian Business Forum

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  • Raghvendra Narendra Dhoot
    Raghvendra Narendra Dhoot    Group moderator
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    Raghav’s Picks:Weekly Technical Outlook for the BSE Sensex and NSE Nifty – 16th September 2007
    BSE Sensex – Reuters – .BSESN
    NSE Nifty – Reuters – .NSEI

    After going through a volatile consolidation phase all through the week, the Sensex and the Nifty barely managed to close 13 and 8 points higher. The volatility of the Sensex can be seen from the trading range of the week, the Sensex gyrated between 15,363 (the low of Monday) and 15,824 (the high of Friday)

    Going forward the Sensex can possibly touch 15892-15976-16090-16178 in the days to come with the downside restricted to 15483.

    However, it will be a volatile ride nevertheless. The Raghav’s Picks Sensex Volatility Indicator which measures the intraday volatility of the Sensex is up at 198 as of Friday the 14th as against the measure of 185.63 on Friday the 7th and a base value of 100 on 11th July when the measure was launched.

    The Fed rate cut, global credit market concerns and the domestic political situation will play themselves out in the form of volatility predicted above.

    The medium term trend will negative only if the Sensex closes below 15000 (4340 for the Nifty), which is a remote possibility as of now.

    For detailed market analysis, investment, trading calls and, advisory services with respect to investing in the Indian Markets, please mail me on raghav@raghavs-picks.com or use the personal message link: http://www.xing.com/go/privatemessage/RaghvendraNarendra_Dho...
    • 16 Sep 2007, 12:58 pm