Hello,
Another barely positive week but still trading well within the narrow band of 5350 - 5500. Among the major indices of the world, its just we and Sri Lanka who managed to close in postive with worst performer being Nasdaq Composite Index - the tech heavy index of US which fell a massive 5.02%.
Maximum Open Interest in Nifty remains between 5300 and 5600 confirming to the range in which markets have been stuck for some time now. Existing positional longs can be held with a stop below 5350 and fresh longs are better initiated only on break of 5500.
Regards
Prashanth
Mythri Stocks & Shares Pvt Ltd.,
PS: Arvind, I have attached a Short Term Outlook of the market by a friend of mine. If its ok, please do post the document with the Weekly outlook you send.
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