The current unrest in the Middle East continuous to escalate further. After Egypt, its now LIBYA.
What impact will the political situations may have on the markets?
Well the major threat is the rising oil prices (6% up today right upto 95$). With inflation being the major concern since long, this can cause stocks to be more volatile. Also the budget is within a week distance.
The US stocks were down sharply today.
Back home, the markets did'nt offer much to cheer (Except of course the much talked RIL BP deal that moved up the RIL stock up about 3%) Markets were down 0.8% which partly erased the gains of Monday
Outlook for sensex in the near term is that it will be around the current levels itself. The 200 DMA will act as a major resistance at around 18700 levels. The rising oil prices will remain a concern. Also the F&O expiry coming up may add to this volatility. Fresh positions must be considered only after the budget.
As written earlier too, Hero Honda needs to be watched out for. The stock is being hammered alongwith the market as of now but a strong positive divergence with RSI indicates that a short reversal might follow soon.
Will write on this some days later once it gives a signal
What impact will the political situations may have on the markets?
Well the major threat is the rising oil prices (6% up today right upto 95$). With inflation being the major concern since long, this can cause stocks to be more volatile. Also the budget is within a week distance.
The US stocks were down sharply today.
Back home, the markets did'nt offer much to cheer (Except of course the much talked RIL BP deal that moved up the RIL stock up about 3%) Markets were down 0.8% which partly erased the gains of Monday
Outlook for sensex in the near term is that it will be around the current levels itself. The 200 DMA will act as a major resistance at around 18700 levels. The rising oil prices will remain a concern. Also the F&O expiry coming up may add to this volatility. Fresh positions must be considered only after the budget.
As written earlier too, Hero Honda needs to be watched out for. The stock is being hammered alongwith the market as of now but a strong positive divergence with RSI indicates that a short reversal might follow soon.
Will write on this some days later once it gives a signal
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